Expansion of the "Southbound Channel" and optimization of offshore repurchases, synergistic expansion of Dim Sum Bonds and Panda Bonds to deepen the internationalization of the Renminbi.

As the "twin stars" of RMB bonds in the global capital market, Dim Sum bonds and Panda bonds continued to have a hot issuance market this year. Recently, a series of measures to optimize and expand the bond connect program were announced, including the expansion of the "southbound connect" and the optimization of arrangements for offshore RMB bond repurchase transactions, which have attracted high industry attention. Industry insiders believe that under favorable policies, the trading activity of Dim Sum bonds and Panda bonds is expected to increase, helping to jointly build a closed-loop for RMB cross-border investment and financing, and promote the deepening of RMB internationalization.