China’s Bond Futures Positions Hit Record as Bullish Bets Surge

Chinese government bonds’ recent recovery is drawing more traders into derivatives, reflecting stronger demand for safety and hedging as confidence in the debt market grows.

The number of open futures contracts tied to China’s 10‑year government bonds rose on Monday to 344,171, the highest since they started trading in 2015, according to exchange data. That’s a 46% jump since the beginning of the year, outpacing the 24% rise seen in all of 2025.