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In order to promote the high-level opening-up of China bond market and facilitate the understanding and participation of overseas institutions, NAFMII and ICMA jointly released “Panda Bonds: Raising Finance in China’s Bond Market (Case Studies)” (Chinese and English version) and “Investing in China’s Interbank Bond Market: A Handbook” (English version), providing guidance for overseas issuers and investors on financing and investment in China interbank bond market respectively.
Panda Bonds: Raising Finance in China’s Bond Market (Case Studies) (hereinafter referred to as “Panda Bond Case Studies”, see Appendix 1-1 and 1-2) aims to enable overseas issuers to understand China's bond market through intuitive and concise case analysis. Panda Bond Case Studies selects 19 categories of cases, each consisting of 1-3 cases, basically covering all innovative, exemplary and typical panda bond cases.
Investing in China’s Interbank Bond Market: A Handbook (see Appendix 2) is mainly aimed at facilitate overseas investors’ participation. It not only introduces "why to invest in China bond market", "understand the key elements of China bond market" and "the current situation and future of the opening-up of China bond market ", but also expounds the main practical points of investing in interbank market through three channels (CIBM direct, QFII/RQFII and Bond Connect).
In addition, NAFMII released “The Opening-up of China’s Bond Market and the Development of Interbank Panda Bond Market” to help overseas issuers have a better understanding of the panda bond market and relevant requirements for panda bond registration and issuance(see Appendix 3-1, 3-2).
Under the guidance of the People's Bank of China, NAFMII will thoroughly implement the development concept of open-minded, strengthen cooperation with international institutions, and provide services for the opening-up of bond market.
List of attachments：
Appendix1-1 Panda Bonds-Raising Finance in China’s Bond Market (Case Studies).pdf
附件1-2 熊猫债创新产品手册：海外机构在中国债券市场的融资案例.pdf
Appendix2 Investing in China’s Interbank Bond Market-A Handbook.pdf
