In 2025, China's bond market delivered remarkable high-quality development, with deepened market-oriented reform, product innovation and opening-up. To present a comprehensive picture of China's bond market to global participants and facilitate overseas institutions' in-depth participation, the National Association of Financial Market Institutional Investors (NAFMII) officially released th...

In order to promote the high-level opening up of China’s bond market and promote the internationalization of the RMB, the National Association of Financial Market Institutional Investors (NAFMII), under the guidance of the People’s Bank of China, actively promotes the issuance of bonds by overseas institutions in China’s interbank bond market(referred to as "Panda Bonds"). In order to furthe...

　　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 oversea...