The cumulative issuance scale has exceeded 1 trillion yuan, and the Panda bond market space continues to expand.

According to Wind data, as of August 3rd, the total issuance of panda bonds in the interbank market this year reached 116.65 billion yuan. As of now, the cumulative issuance of panda bonds has exceeded 1 trillion yuan. Experts say that in recent years, the variety of issuers of panda bonds has continued to increase, the number of issuers steadily climbing, and they have consistently gained favor from internationally renowned institutions, expanding the depth and breadth of the panda bond market. A research report from CCX International Research Institute believes that the cost advantage of financing is one of the key factors for the intensive issuance of panda bonds. "Currently, the coupon rates of panda bonds are significantly lower than those of corresponding US dollar bonds. International issuers can directly reduce financing costs by swapping existing US dollar debt, thereby increasing the willingness to issue panda bonds." The report concluded.