Core Insights - The issuance scale of Panda bonds in the interbank market has reached 1166.50 billion yuan as of August 3 this year, with the cumulative issuance surpassing 1 trillion yuan [1] - The variety of issuers for Panda bonds has increased, with a steady rise in the number of issuers, gaining favor from internationally renowned institutions, thus expanding the depth and breadth of the Panda bond market [1] - A report from China Chengxin International Research Institute indicates that the cost advantage of financing is a significant factor for the intensive issuance of Panda bonds, as the coupon rates of Panda bonds are significantly lower than those of concurrent US dollar bonds [1] - International issuers are motivated to replace existing US dollar debt with Panda bonds, which directly reduces financing costs, enhancing the willingness to issue due to this "cost-performance" advantage [1]
累计发行规模突破1万亿元,熊猫债市场空间持续拓展
Sou Hu Cai Jing·2025-08-03 23:26