Institutional dividends continue to be released; panda bond issuance scale this year increased by 60% year-on-year.

Recently, policy signals have been released supporting more eligible overseas entities to issue panda bonds in China. Wind data shows that as of October 31, a total of 142 panda bonds were issued during the year, with a total issuance scale of 251.305 billion yuan, up 46.39% and 60.22% year on year, respectively. Experts believe that the prominent cost advantage of onshore bond financing is the direct driver of this round of rapid issuance growth, and the continued release of institutional opening-up dividends has provided a favorable environment for the expansion of panda bonds.