This league table is based on GlobalCapital China's proprietary Panda Bond Database. Private placements are excluded.

Panda Bond Top Issuers

Rank Issuer Total Volume Rmb (m) No. of Deals Share % by Volume
1 New Development Bank 5,000 1 43.48
2 Hengan International Group 3,000 4 26.09
3 Semiconductor Manufacturing International Corp (SMIC) 1,500 1 13.04
4 China Gas Holdings 1,000 1 8.70
4 Yuexiu Transport Infrastructure 1,000 1 8.70

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