Panda bond issuance — renminbi borrowing by overseas companies in mainland Chinese markets — hit Rmb194.8bn ($26.5bn) in 2024, the highest on record for a full year. Analysts say this ‘in China, for China’ strategy could help foreign groups reduce transaction costs — or even hedge against potential financial restrictions on their local units if the US-China trade war escalates.
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Produced by Paolo Pascual.
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