China's panda bond issuance up in first three quarters

BEIJING -- China's panda bond issuance registered stable growth in the first three quarters of 2022 thanks to new measures to boost the market.

About 75.4 billion yuan ($10.4 billion) of such bonds were issued in the first nine months, up 8.7 percent from a year ago, data from the National Association of Financial Market Institutional Investors showed.

Among all, the issuance by international development institutions jumped 27.8 percent year-on-year to 11.5 billion yuan.

The association launched a pilot program this year to streamline the panda bond registration and issuance mechanism. The issuer base for universal registration was expanded, and repetitive disclosure was reduced.

Panda bonds are yuan-denominated debts sold by overseas issuers to meet financing demand.

At the end of September, the outstanding bonds registered by the association amounted to 167.78 billion yuan, up by 28.86 billion yuan from the end of 2021.