Panda Bond Issuance Exceeds 250 Billion Yuan in 2026, Setting New Record
As of November 5, 2026, year-to-date panda bond issuance reached 251.8 billion yuan, up 58.12% year-on-year, surpassing full-year totals for 2024 and 2025 and setting a new record. Outstanding panda bonds reached 535.9 billion yuan. Foreign issuers accounted for over half of fundraising in the first half of 2026, and sovereign issuers increased, with weighted average maturity at 3.27 years and coupon at 1.83%.
Panda bond issuance hit a record high in 2026, with foreign and sovereign issuers gaining share, signaling stronger global demand for RMB assets and expanding cross-border financing channels relevant to bond markets and RMB internationalization.
Source: China News Service · Finance · chinanews.com.cn
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