Bank of China Jointly Releases White Paper on Cross-border RMB Bonds

Supported by Bank of China, the China Debt Capital Market Annual Forum 2026 was hosted by the International Capital Market Association (ICMA) in Beijing. 

The forum focused on in-depth discussions on key topics such as development trends in China's bond market, green finance, fin-tech, and financial infrastructure innovation. It brought together over 400 professionals — including representatives from domestic and international regulatory bodies, exchanges, international financial organizations, issuers and investors.

At the event, BOC and the ICMA jointly released the White Paper on Cross-border RMB Bonds: Market Evolution and Future Outlook, which systematically reviewed the overall development of the cross-border RMB bond market, including Panda Bonds and offshore RMB bonds. 

The paper provides an in-depth analysis of the market infrastructure, development opportunities and challenges and puts forward strategic recommendations on future market trends. It provides a useful reference for promoting the international use of the RMB and the high-quality development of the cross-border RMB bond market.

The ICMA is a core self-regulatory organization and a standards-setting body in international debt capital markets. As the only Chinese institution on ICMA's Board, BOC has long been committed to promoting greater integration and connectivity between Chinese bond market standards and international standards.

Long regarded as the most globalized Chinese bank, Bank of China will continue to use its cross-border business advantages, deepen cooperation with international institutions such as the ICMA, and actively promote connectivity between China's bond market and international markets. The bank is committed to expanding the use of RMB internationally and contributing to the sustainable development of global capital markets.

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