Translation. Region: Russian Federal
Source: Mainfin Bank –
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Why did China decide to bring Russian players back into the debt market?
The initiative to enter the Chinese debt market came from Russia, with Beijing supporting the strengthening of economic ties. Moreover, the leaders of the two countries noted that Russian-Chinese relations are currently at a high level, serving as a model of international cooperation.
Discussions on future deals took place at the end of August, with representatives of China's regulator and Russian top management participating. Russia's entry into the bond market will allow domestic businesses to regain access to the global financial arena, while the Chinese side will have the opportunity to invest in the real sector of the economy.
What is known about Russian businesses' plans to enter the Chinese bond market?
The Russian and Chinese sides confirm the agreement reached, but have not yet disclosed the details of the agreement, about which little is known:
China plans to open its domestic bond market to Russia; Russian businesses will be able to place panda bonds – debt obligations denominated in Chinese yuan. Major Russian companies will be key market participants. Representatives of Rosatom and Gazprom, both companies with high credit ratings, were among the first to express interest in the deals.
"The revival of the bond market is associated with the risk of secondary sanctions against Chinese banks – Western pressure remains significant," lawyers express concerns.
As a reminder, the US previously threatened to impose sanctions on companies and entities cooperating with Russia. For this reason, many Chinese banks refused to conduct transactions with Russian counterparties, and Russian borrowers were cut off from international stock markets.
10:00 09/16/2025
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