Brief comment: China's reissue of Euro Sovereign Bonds conveys the signal of opening up
Beijing, 6 Nov (Xinhua) China's reissue of euro sovereign bonds conveys the signal of opening up
Xinhua News Agency reporter Zou Duowei Han Bing
China's Ministry of Finance successfully priced 4 billion euros of sovereign bonds in the French capital Paris on the 5th, the first time the Chinese government has issued euro bonds in 15 years. Many positive signals, such as openness, are encouraging.
The market is once again hot after China's sovereign bonds, underscoring the world's confidence in China's economic prospects. International investors have enthusiastically subscribed to China's bond issue, with a total of more than 20 billion euros, five times the amount issued, with more than half of the money coming from Europe, according to official data.
The favor of foreign investors shows that against the backdrop of slowing world economic growth, international investors regard Chinese financial products as a safe haven and China as one of the most worthwhile markets to invest in. This is undoubtedly a high recognition of the bright future of China's economy. Samuel Fischer, head of bond capital markets at Deutsche Bank in China, commented. The successful issuance of the bond reflects the good expectations and strong interest in China's national credit, high-quality economic development and strong financial strength in the international capital market.
The bond issue set a number of records. This is the first time that China has issued euro sovereign bonds in 15 years, and it is also the largest single foreign currency sovereign bond issued by China so far. From these records, it is clear that China's determination and actions to open its doors to the outside world are growing. This year, from US companies allowed to enter the Chinese market to carry out credit rating business, to the official launch of the Shanghai Stock Connect, and then to restart the issuance of euro sovereign bonds. China's pattern of opening up to the world at an all-round and high level is even more encouraging.
It is worth noting that China's choice to issue euro sovereign bonds in Paris also conveys an important signal to support the construction of an international financial center in Paris, attach importance to the European financial market, and deepen China-France-China-EU financial cooperation. Some observers believe that after issuing US dollar sovereign bonds for two consecutive years, China's resumption of euro financing channels in Paris will further strengthen economic and financial cooperation between China and France. Building a more solid, stable and dynamic comprehensive strategic partnership will also help further deepen China-France and even China-EU economic and trade cooperation.
See Yan Zhichun, taste the taste. The resumption of the issuance of euro sovereign bonds by China has made it clear to people that China's economy is moving towards high-quality development with determination and vitality, that the world has recognition and expectation of China's economic prospects, and that there is potential for win-win cooperation between China and France and the EU has potential for a future.