POLL: growing the panda bond market

Author: IFLR Correspondent | Published: 18 Dec 2015
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China has taken a quantum leap over the past year in relaxing controls on its capital account. Authorities have both implemented and initiated several new measures enabling greater foreign access to its interbank bond market.

The People’s Bank of China has been canvassing opinion on draft amendments to its panda bond rules, which would enable more foreign corporates to issue RMB-denominated bonds onshore.

Since 2014 when Daimler became the first non-financial institution to issue bonds in China’s domestic market, HSBC and the BOC’s Hong Kong branch have been invited onboard to cash in on the lucrative bond pool.  On the other hand, while PRC enterprises can now use their bond proceeds both onshore and offshore, their overseas subsidiaries and branches are now, for the first time, subject to registration when remitting proceeds onshore.

IFLR’s poll this month asks what event has been the biggest boost to the panda bond market:

  • RMB’s inclusion in IMF’s special drawing rights
  • South Korea issuing first sovereign panda bond
  • HSBC and BOC (HK) approval to sell panda bonds
  • PBOC’s monetary easing
  • Other
Vote now on the 'Quick Poll’ menu on the right hand side of IFLR’s homepage.

All votes and comments are anonymous. To arrange an off-the-record interview to elaborate on your response, email brian.yap@iflraasia.com

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