Foreign media: Brazil plans to announce the issuance of its first panda bond during a large-scale government delegation's visit to China in late June, marking the country's first sovereign bond denominated in renminbi.
The Shanghai and Beijing trip led by Finance Minister Dario Castelão Duque is scheduled from June 24 to 26, representing another step in Brazil’s strategy to expand its international debt market and diversify financing currencies, following the successful issuance of €5 billion in bonds in April.
This move comes amid strained relations between Brazil and the Trump administration in the United States, as Washington recently proposed imposing a 25% tariff on Brazilian goods and designated local criminal organizations as "terrorist groups." Meanwhile, President Lula has recently reaffirmed his commitment to deepening ties with China, Brazil’s largest trading partner.
Before the visit, Brazilian officials will travel to China next week to attend a financial subcommittee meeting between the two countries, where they will focus on promoting sustainable finance instruments such as ecological investment plans and the Permanent Fund for Tropical Forests, aiming to attract Chinese direct investment in strategic sectors of Brazil.
Original source: toutiao.com/article/1867220312801289/
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