The primary convertible bond market is heating up. As of August 6, 51 convertible bonds have been issued since this year, totaling 60.7 billion yuan, an increase of 104% and 51%, respectively, over the same period last year. What happened at the same time as the recovery on the issuer side was that existing convertible bonds were being withdrawn at an accelerated pace. According to the data, 123 convertible bonds left the market during the year, and the market survival size decreased by 56 billion yuan compared to the beginning of the year. Industry insiders believe that the optimization of the refinancing policy has opened up channels for the issuance of convertible bonds. Increased capital expenditure for technology companies and strong demand for institutional allocation have provided support for both supply and demand for new securities. As a result, the convertible bond market has entered a new stage of accelerated issuance and structural adjustment.

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