China is preparing to reopen its domestic bond market to Russian energy firms, in a step that highlights the deepening financial and political partnership between Beijing and Moscow, according to the Financial Times.
At a late August meeting in Guangzhou, senior regulators assured Russian executives that they would back the issuance of renminbi-denominated “panda bonds.” If completed, it would mark the first such Russian deal since the Ukraine invasion, and the first corporate issuance since Rusal raised 1.5 billion yuan in 2017.
The talks came alongside President Putin’s recent visit to Beijing, where he met Xi Jinping, who described him as an “old friend.” The trip also advanced a key energy agreement, including the Power of Siberia 2 pipeline between Gazprom and China.
