Hardly worth the wait: New Panda rules fall short

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By Rebecca Feng
27 Sep 2018

The People’s Bank of China has made long-awaited changes to its Panda bond guidelines, offering clarity to issuers that had previously been forced to deal with ambiguity and confusion. But bankers say the changes do not go far enough. Rebecca Feng reports.

In an official document released on Tuesday, the PBoC outlined what it sees as the key categories of Panda bond issuers: sovereigns, international development organisations, foreign financial institutions and non-financial enterprises. It also outlined the eligibility criteria and gave more details on disclosure requirements, accounting standards and credit ...

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