MANILA -- A record $7.355 trillion outstanding bonds were issued in local currencies at the end of 2013 within East Asia, excluding Japan, the Asian Development Bank said Thursday. The figure is an increase of 11.7% on the year.
The Manila-based regional financial watchdog compiles data on local currency-denominated bonds issued in China, South Korea, Singapore and six other countries and regions on a quarterly basis. The outstanding balance of bond issuance in these countries and regions accounted for over 70% of Japan's balance in the same year, about $10 trillion. In China, responsible for 60% of the total issuance, the amount of bonds issued grew 13.6% on the year. Indonesia saw a 20.1% rise in issuance.