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'''Panda bonds''' are bonds issued by foreign institutions and denominated in [[renminbi]].<ref>https://www.bankofchina.com/english/enterprises/cb2/cbf/202601/t20260106_25639231.html</ref>
There are four categories of foreign issuers for Panda bonds:
*Foreign governmental institutions: Representative issuers include [[Hungary]], [[Egypt]], the [[Canadian]] province of [[British Columbia]], and the Emirate of Sharjah in the [[United Arab Emirates]].
*International development institutions: Representative issuers include the Asian Development Bank, the New Development Bank, and the Asian Infrastructure Investment Bank.
*Foreign financial institutions: Representative issuers include [[Deutsche Bank]], Crédit Agricole, National Bank of Canada, and United Overseas Bank.
*Foreign non-financial enterprises: Representative issuers include [[Mercedes-Benz]], [[BMW]], [[Volkswagen]], [[BASF]], [[Bayer]], and Suzano.
==See also==
*[[Free market]]
==References==
{{reflist}}
[[Category:Finance]]