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随着我国利率市场化、汇率形成机制改革以及资本账户开放进程的加快,人民币国际化取得了重要进展,熊猫债市场迎来了新的发展机遇。2015年以来,熊猫债的发行主体范围进一步扩大,发行规模大幅增长,已成为市场关注的焦点。本文分析了熊猫债市场的发展情况以及影响熊猫债发展的重要因素,研究了当前人民币国际化及国内债券市场开放背景下熊猫债发展面临的问题与机遇,并对推动熊猫债进一步发展提出了建议。
With the marketization of interest rates in our country, the reform of the exchange rate formation mechanism and the opening of the capital account, significant progress has been made in the internationalization of the renminbi. Panda debt markets usher in new opportunities for development. Since 2015, the issuer of Panda bonds has further expanded its scope of issuance and the issuance scale has risen sharply, which has become the focus of attention in the market. This article analyzes the development of the Panda bond market and the important factors that affect the development of the Panda bonds. It studies the problems and opportunities facing the development of the Panda bonds under the current internationalization of the Renminbi and the opening up of the domestic bond market, and puts forward some suggestions to promote the further development of the Panda bonds. .