Story perspectives

May Panda Bond Issuance Surges 246% to Record 26.6bn Yuan

6/8/2026

Summary

Story summary

Governments, banks and companies issued 14 panda bonds worth 26.64 billion yuan in China in May 2026.
May issuance rose 246 percent from a year earlier, setting a monthly record.
Five of the 11 issuers were pure offshore borrowers, raising 13.55 billion yuan, more than half of May’s total.
Kazakhstan raised 3.4 billion yuan on May 26 and Pakistan issued a 1.75 billion yuan sustainable bond on May 15, the first South Asian sovereign to tap the market.

1 of 1

Story summary

Governments, banks and companies issued 14 panda bonds worth 26.64 billion yuan in China in May 2026.
May issuance rose 246 percent from a year earlier, setting a monthly record.
Five of the 11 issuers were pure offshore borrowers, raising 13.55 billion yuan, more than half of May’s total.
Kazakhstan raised 3.4 billion yuan on May 26 and Pakistan issued a 1.75 billion yuan sustainable bond on May 15, the first South Asian sovereign to tap the market.