icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

Russia plans to issue its first 'Panda' bonds next year – finance ministry

Russia plans to issue its first 'Panda' bonds next year – finance ministry
Russia wants to issue sovereign debt denominated in Chinese currency and sell it on the Moscow Stock Exchange starting next year, Russia's Deputy Finance Minister Alexey Moiseev has announced.

“There are plans to list yuan-denominated bonds in Moscow in 2020,” the official said as cited by TASS.

The idea has been considered since 2016, but the launch was subsequently postponed several times. However, this year the move returned to the spotlight, as both Russia and China, facing US financial pressure, try to counter the dominance of the US dollar.

Also on rt.com Russia to sell debt in Chinese yuan as Washington weaponizes dollar

The measure would mark another step towards de-dollarization, as Moscow and Beijing cannot fully cut reliance from the greenback at this point.

China is Russia’s largest trade partner, and the trade turnover between the two exceeded $100 billion last year, while they expect to double this record in 5 years. Since January to September 2019, year-on-year volume of trade jumped 3.7 percent and has topped $80 billion.

For more stories on economy & finance visit RT's business section

Dear readers and commenters,

We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system.

Sorry for the inconvenience, and looking forward to your future comments,

RT Team.