BCCL & CICC Co-hosted a Webinar on “2026 Panda Bond Market: Opportunities from Issuance to Investment”
18 August 2026
On 6 August, Bond Connect Company Limited (BCCL) and CICC co-hosted a webinar titled “2026 Panda Bond Market: Opportunities from Issuance to Investment”. From both issuer and investor perspectives, the webinar explored funding opportunities and investment potential in the Panda Bond market and attracted over 600 registrants.
Dr. Daming CHENG, Deputy Head of Fixed Income Team, Investment Banking Department, and Managing Director at CICC, noted that Panda Bond issuance continued to grow in 2026, as many international issuers identified opportunities to reduce their overall financing costs through Panda Bonds.
Ms. Xiaoqing LI, Senior Manager of RMB Market Department at China Foreign Exchange Trade System (CFETS), said that CFETS provides a complete, end-to-end solution covering Panda Bond issuance and distribution. The fully online and traceable process supports book-building, tender issuance and bidding issuance, as well as participation by onshore and offshore investors. The standardized and digital workflow reduces manual reconciliation and operational risk.
During the fireside chat, Mr. Tony WANG, General Manager of Bond Connect Company Limited, and Mr. Aslam CHAUDHARY, Economic Minister at the Embassy of Pakistan, Government of Pakistan, shared insights into Pakistan's debut Panda Bond issuance in China onshore market and the market response it attracted. The transaction was oversubscribed by more than five times, with the proceeds linked to sustainable and green infrastructure projects.
Mr. CHAUDHARY added that the issuance was the first step under Pakistan's RMB7.2 billion Panda Bond programme. Pakistan intends to continue building its presence in the onshore RMB market in a careful and disciplined manner. He further added that Pakistan’s economic indicators are improving due to deep structural reforms undertaken by the current government. Pakistan will build on this momentum and investors’ confidence and issue a second tranche later this year. On the question of Dim Sum Bonds, he said this is a complementary option, and we will study this market as well. He explained that the broader objective is to build a sustainable RMB funding platform and diversify its funding sources.
In the subsequent panel discussion with representatives from the Asian Development Bank, Crown Agents Investment Management and Allied Bank Limited, covering funding diversification, market investability, the investor base and cross-border market infrastructure. Panelists noted that Panda Bonds are becoming an increasingly important funding channel for international issuers seeking greater diversification. They also highlighted that continued market opening and improvements in market infrastructure and risk-management tools would make the market more accessible and efficient, while strengthening cross-border financial cooperation.
BCCL will continue to serve as a bridge connecting the onshore and offshore financial markets, conducting market outreach and investor engagement focused on Panda Bond issuance, investment and market facilitation, and helping more overseas issuers and global investors capture opportunities in China’s bond market.