{"id":852745,"date":"2026-06-08T11:41:23","date_gmt":"2026-06-08T11:41:23","guid":{"rendered":"https:\/\/www.europesays.com\/us\/852745\/"},"modified":"2026-06-08T11:41:23","modified_gmt":"2026-06-08T11:41:23","slug":"china-sees-record-panda-bond-issuance-in-2026-as-foreign-borrowers-pile-in","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/852745\/","title":{"rendered":"China sees record panda bond issuance in 2026 as foreign borrowers pile in"},"content":{"rendered":"<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Foreign governments, international banks and multinational companies are increasingly tapping China\u2019s domestic bond market, as panda bond issuance hit a record high in the first five months of the year.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">A total of 11 entities sold 14 panda bonds \u2013 yuan-denominated debt instruments issued by foreign entities in mainland China\u2019s onshore market \u2013 worth 26.64 billion yuan (US$3.7 billion) in May, up 246 per cent from a year earlier and the highest level on record for the month, according to data compiled by Fareast Credit Rating. Issuance in the first five months of 2026 reached a record 136.5 billion yuan, up 90.3 per cent year on year.<\/p>\n<p>Participants included the governments of <a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/economy\/china-economy\/article\/3350040\/kazakh-sovereign-fund-issues-central-asias-first-panda-bond-milestone-sale?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"nofollow noopener\">Kazakhstan<\/a> and <a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/economy\/global-economy\/article\/3353149\/panda-power-pakistan-tap-china-debt-market-first-sale-yuan-priced-notes?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"nofollow noopener\">Pakistan<\/a>, as well as Deutsche Bank, Morgan Stanley, BNP Paribas, Volkswagen and Henkel.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Kazakhstan raised 3.4 billion yuan through its debut panda bond issue on May 26, while Pakistan issued a 1.75 billion yuan sustainable development bond on May 15, becoming the first South Asian sovereign to tap the market. The deals broadened the range of sovereign borrowers accessing China\u2019s domestic debt market.<\/p>\n<p>Fareast Credit Rating said the two sovereign debuts marked an important step for yuan-denominated financing among countries taking part in the Belt and Road Initiative, and could help <a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/economy\/china-economy\/article\/3337438\/what-chinas-yuan-internationalisation-push-looks-and-what-may-hold-it-back?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"nofollow noopener\">extend yuan internationalisation<\/a> beyond trade settlement into sovereign financing and investment.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Overseas participation in the market continued to rise. Five of the 11 issuers in May were pure offshore borrowers, raising a combined 13.55 billion yuan and accounting for more than half of the total.<\/p>\n","protected":false},"excerpt":{"rendered":"Foreign governments, international banks and multinational companies are increasingly tapping China\u2019s domestic bond market, as panda bond issuance&hellip;\n","protected":false},"author":3,"featured_media":852746,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[12],"tags":[348251,128462,79326,64,348249,348253,26491,79,348252,348250,32300,13201,3775,293905,67,132,68,20144,348254,274339],"class_list":["post-852745","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-allen-ding","tag-belt-and-road-initiative","tag-bnp-paribas","tag-business","tag-china-citic-bank-international","tag-chinas-bond-market","tag-deutsche-bank","tag-economy","tag-fareast-credit-rating","tag-henkel","tag-kazakhstan","tag-morgan-stanley","tag-pakistan","tag-panda-bond","tag-united-states","tag-unitedstates","tag-us","tag-volkswagen","tag-wang-qian","tag-yuan-internationalisation"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/116714306908371076","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/852745","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=852745"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/852745\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/852746"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=852745"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=852745"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=852745"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}