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Brazil's Ministry of Finance submits a panda bond issuance application letter to the Chinese side.

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On June 25, according to CCTV, the People's Bank of China learned that today (25th), the Brazilian Ministry of Finance submitted an application letter for panda bond issuance to the China Bank Dealers Association. Brazil will become the first Latin American country to register and issue sovereign panda bonds. People's Bank of China Governor Pan Gongsheng stated that the two countries will deepen investment and financing cooperation, promote the use of bilateral local currencies, advance the interconnection of financial infrastructure, and ensure that the results of cooperation benefit the enterprises and people of both countries, injecting strong momentum into global economic development and financial stability. China and Brazil will further promote the interconnection of financial markets. Both sides support the China-Brazil Cooperation Fund for Sustainable Development and Capacity Expansion in playing a greater role, achieving mutual benefits in economic and social benefits by deploying projects in key areas such as climate change and clean energy. The two sides agreed to strengthen macroeconomic policy coordination under mechanisms such as the G20, BRICS, and the International Monetary Fund, and jointly speak for developing countries.
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