World Economy

Poland’s Panda Bond

Poland’s Panda BondPoland’s Panda Bond

The Polish government will issue a three billion yuan ($455.55 million) three-year bond in China’s onshore market, the state-owned China News Service reported, marking the first time a European nation has issued yuan-denominated debt in China. The Polish deputy finance minister told Reuters in March that the nation was considering issuing a panda bond, but that the exact amount and timing had not yet been agreed. News of the bond, which was reported on Tuesday evening, comes on the heels of a visit to Poland by Chinese President Xi Jinping earlier this week.