On October 9, 2024, China's Finance Ministry auctioned three-year bonds at a yield of 1.6080%, seven-year bonds at 2.0476%, and six-month bills at 1.4137%. The bond market faced volatility as the Shanghai Composite Index dropped by 6.4%, while the Chinext Price Index tumbled over 10%. The Hang Seng Index in Hong Kong also experienced significant declines, closing down 289.55 points, or 1.38%, at 20,637.24. However, the following day saw a partial recovery with the Hang Seng Index opening up 408.76 points, or 1.98%. The People's Bank of China and the Ministry of Finance emphasized their commitment to stabilizing the bond market and ensuring appropriate conditions for treasury bond trading. Additionally, the yields on China's 10-year government bonds fell to 2.16%, while the 30-year bonds dropped to 2.32%. The Chinext Index continued to face challenges, extending its losses to over 3% on October 10.