Post #22171

China is moving to reopen its domestic bond market to top Russian energy companies, signaling closer economic and diplomatic ties with Moscow, the Financial Times reported, citing two people familiar with the matter. Top Chinese regulators told Russian energy executives at a late August meeting in Guangzhou that they would back plans to issue renminbi-denominated “panda bonds,” the people told FT. If finalized, this would mark the first time a Russian company has raised funds in mainland China since the 2022 invasion of Ukraine and the first Russian debt sale on China’s public bond market since aluminum producer Rusal issued Rmb1.5 billion ($210 million) in panda bonds in 2017.