Indonesia once again issued Renminbi sovereign bonds, showing the trend of diversification of financing currencies in emerging markets.

Recently, with the assistance of institutions such as Deutsche Bank Group, the Indonesian government issued a total of $4.5 billion in sovereign bonds on the international capital market, including 9.25 billion yuan offshore bonds and 2.7 billion euro bonds. This is Indonesia's second time promoting renminbi financing in the international market after issuing offshore renminbi sovereign bonds for the first time in 2025. Market participants stated that with the continuous expansion of the panda bond and dim sum bond markets, the renminbi financing channels are constantly diversifying, and emerging market countries are actively exploring renminbi financing to promote diversification of external debt structures.