Turnover in so-called pledged repurchase trades surged past 8 trillion yuan ($1.2 trillion) to an all-time high Thursday, according to calculations by Bloomberg. The figures are used as a gauge of leveraged activity in bonds, even if the transactions also include the day-to-day financing needs of firms in the market.
The full article is available at https://www.bloomberg.com/news/articles/2023-04-07/china-traders-borrow-trillions-to-juice-returns-in-bond-market