On December 17, the Industrial and Commercial Bank of China (ICBC) and China Central Depository & Clearing Co., Ltd. (CCDC) jointly launched the "ChinaBond-ICBC Panda Bond Series Index" in Beijing. The two parties will cooperate to promote the expansion and quality improvement of the Panda bond market and serve the high-level opening up of the bond market.
The "ChinaBond-ICBC Panda Bond Series Indexes" are the first bond index series in China to reflect the Panda bond market. Among them, the "ChinaBond-ICBC Panda Bond AAA Index" aims to reflect the overall trend of the Panda bond market, with its constituent bonds covering 80% of issuers and all issuer types. The "ChinaBond-ICBC Panda Bond 30 Index" aims to reflect the market performance of representative issuers, selecting the top 30 issuers in terms of outstanding bond size; its constituent bonds have high recognition and good liquidity. The launch of this series of indices provides Panda bond market participants with an authoritative benchmark and tracking target, helping to attract more overseas investors to participate in my country's bond market and playing a positive role in promoting the internationalization of the RMB and expanding high-level opening-up.
