First quarter panda bond issuance volume greatly increased.

In the first quarter, Panda bonds delivered outstanding results. Influenced by factors such as financing cost advantages, internationalization of the RMB, the cumulative issuance of Panda bonds in the first quarter reached 88.235 billion yuan, setting a new record for a single quarter and doubling from the same period last year. Experts say that with support from multiple factors, Panda bonds will continue to improve in quality and expand in scale, with their attractiveness expected to further increase.