The panda bonds: how China uses assets to boost yuan’s profile, cement partnerships (opens in new tab)

Brazil is set to become the latest major economy to issue panda bonds – yuan-denominated debt sold in the Chinese market – joining a growing group of countries that has embraced assets backed by China’s currency as a means of fundraising. According to analysts, the participation of Brazil – a founding member of the Brics (Brazil, Russia, India, China and South Africa) bloc of emerging markets and the world’s 10th-largest economy – marked a milestone for China, which is leveraging the wide...