Overview of China Interbank Panda Bond Market
Updated: Apr.20, 2020 Print

Under the guidance of PBC, NAFMII actively promotes the development of panda bond market and prudently expand the market together with its members, by conducting intensive research on cross-border regulation practices in overseas bond market, facilitating registration of pilot cases and enhancing institution building.

By the end of March 2020, 65 overseas issuers have entered China interbank market, 46 of which registered panda bond with NAFMII. Types of issuers cover international development organizations, sovereign governments, financial institutions and non-financial enterprises.

The total registration/approval quota has reached 615.07 billion RMB(including 595.51 billion RMB denominated bond and 19.6 billion RMB equivalent SDR bond). Overseas issuers have issued a total of 269.48 billion and the outstanding volume amounted to 181.3 billion RMB. 

Type of Issuers 

Registration Quotabillion RMB)

Issuance Volume

billion RMB)

Outstanding Volume

billion RMB)

No. of Issuance

Representative Issuers

International Development Organization

17

10

6

7

ADB,IFC,NDB

Government

46.46

20.96

11.96

10

Province of BC Canada, Republic of Poland, Hungary

Financial Institution

67.5

31.5

14.5

16

HSBC(HK),

National Bank of Canada ,

Chong Hing Bank, Maybank

Non-financial Enterprise

464.55

201.44

148.84

116

Daimler AG,

Veolia Environment,

Air Liquide

Total

(RMB denominated bonds) 

595.51

263.9

181.3

149

 

IBRD 

18.63

(2 billion SDR

4.65

(0.5 billion SDR) 

0

1

 

Standard Chartered(HK) 

0.93

(0.1 billion SDR) 

0.93

(0.1 billion SDR) 

1

 

Total in RMB

(RMB and SDR denominated bonds) 

615.07

269.48

181.3

151