JPMorgan Chase, BNP bullish on panda bonds

Shanghai

JPMORGAN Chase and BNP Paribas expect foreign companies to sell more yuan bonds in China this year, after the government allowed the two banks to underwrite corporate notes last month.

JPMorgan is having an "active dialogue" with global clients about possible issuance of so-called panda bonds, according to Samantha Xie, China head of debt capital markets at the US bank. BNP Paribas said that it may expand its onshore debt capital markets team, which now consists of three people, after it gained wider access to the market.