Cnooc, the Chinese oil company, enjoyed strong demand when it sold $1.5bn 10-year and $500m 30-year bonds together this summer, according to bankers involved. It became the first Asian company to price its 30-year debt at the same spread, or premium, over government bonds as its 10-year. Not long after, Sinopecfollowed and priced a 30-year bond with a lower spread than its 10-year. Both highlighted the strength of demand from insurers and pension schemes to find returns that can fund their long liabilities.

中国石油企业中海油(Cnooc)今年夏季同时发行了15亿美元的十年期债券以及5亿美元的三十年期债券；据参与交易的银行家透露，此次发行得到了市场的热烈追捧。中海油将其三十年期债券相对于同类政府债券的利差定为与其十年期债券的利差相等，这在亚洲企业中尚没有先例。不久之后，中石化(Sinopec)采取了类似策略，将三十年期债券对于政府债券的利差定得低于其十年期债券的利差。这两家企业的发行情况表明，保险公司以及养老金计划为了履行长期支付义务，需要取得投资回报的需求十分巨大。

“I think it is a sign of growing maturity in Asia that we’re seeing so much more variety of issuance, says Jon Pratt, head of debt capital markets in Asia at Barclays.

巴克莱(Barclays)亚洲债券市场部主管乔恩·普拉特(Jon Pratt)表示：“我认为债券发行种类大大丰富表明，亚洲企业债市场正在趋于成熟。

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