China's Bond Connect program sees record average daily turnover

BEIJING -- China's Bond Connect program saw robust activity in January with average daily turnover hitting a record high, according to a report released by Bond Connect Co Ltd.

The program saw a total of 6,470 trade tickets this month, with average daily turnover of 29.4 billion yuan ($4.54 billion), said the report.

The total monthly trading volume under the program surged to 588.3 billion yuan, the report showed.

By the end of January, Bond Connect had 2,404 approved investors, including 76 of the top 100 global asset-management companies, the report said.

The Bond Connect program, launched in July 2017, is a mutual market-access scheme that allows overseas investors to invest in the Chinese mainland's interbank bond market.