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China's panda bond issuance registered stable growth in the first three quarters of 2022, thanks to new measures to boost the market.
About 75.4 billion yuan ($10.4 billion) of such bonds were issued in the first nine months, up 8.7 percent from a year ago, data from the National Association of Financial Market Institutional Investors showed.
Among all, the issuance by international development institutions jumped 27.8 percent year on year to 11.5 billion yuan.
Panda bonds are yuan-denominated debts sold by overseas issuers to meet financing demand.
The association launched a pilot program this year to streamline the panda bond registration and issuance mechanism. The issuer base for universal registration was expanded, and repetitive disclosure was reduced.
At the end of September, outstanding bonds registered by the association amounted to 167.78 billion yuan, up by 28.86 billion yuan from the end of 2021. The growing panda bond market underlines further opening-up of China's capital markets and the internationalization of the Chinese yuan.
(Source: Xinhua with edits; Cover photo via CFP)
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Disinformation report hotline: 010-85061466