Securities firms issued nearly 300 billion yuan in bonds in August, setting a new high for the year, driven by self-operated and margin financing business, leading to a surge in "blood replenishment" demand

As the A-share market continues to improve, the demand for brokerages to issue bonds for "blood replenishment" is rising sharply. According to Wind data, brokerages experienced a wave of financing in August, with both the scale and number of bond issuances reaching new highs for the year. Entering September, the pace of bond issuance has not slowed down, with several leading brokerages recently obtaining regulatory approval for bond issuance plans amounting to hundreds of billions. In response, interviewed brokerage analysts stated that the recent active bond issuance by brokerages is a strategic move driven by the active market trading, low interest costs, policy encouragement, and the need for development in proprietary trading, margin financing, and debt structure adjustment