China Allows ‘Panda’ Bond Sellers to Send Money Home
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China will allow international organizations such as the World Bank and Asian Development Bank to send proceeds from yuan bond sales home to encourage bond market development, the People’s Bank of China said.
In revised rules over so-called Panda bonds, the People’s Bank and three other government regulators said the rule change was made to encourage the opening up of the nation’s bond market, the central bank said in a statement on its website today.