China government bond futures close higher, 30-year contract up 0.41%

The move is concentrated at the long end, with the 30-year contract outpacing shorter tenors by a wide margin while the 2-year sits flat — a curve-steepening signal that points to duration demand rather than a broad rate-cut repricing. That distinction matters for anyone reading Chinese rates as a proxy for growth expectations or for cross-market RWA and tokenized-yield products benchmarked to sovereign curves. Whether the long-end bid persists without confirmation from the front end is the open question.