This year, the issuance scale of panda bonds exceeded 100 billion yuan, and their recognition continues to increase.

Driven by multiple favorable factors such as low financing costs, continued opening of the financial market, and the increasing demand for RMB asset allocation, the Panda bond market is showing a significant warming trend. According to Wind statistics, as of April 8th, the issuance scale of Panda bonds this year has reached 104.735 billion yuan, doubling from the 52.3 billion yuan issuance scale in the same period last year. Behind this data is the continuous improvement in market recognition of Panda bonds, as well as the firm confidence of domestic and foreign investors in their development prospects. The significant growth in issuance scale is benefited from the combined effect of multiple favorable factors. Low financing costs are one of the key factors attracting issuers. In a relatively low global interest rate environment, the relatively stable interest rate level and low financing costs in China provide extremely attractive conditions for foreign institutions to issue Panda bonds. Through issuing Panda bonds, foreign institutions can obtain RMB funds at a lower cost to meet their funding needs in China and globally, thereby reducing financing costs and improving the efficiency of fund utilization.