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Guan Eng to discuss Panda bonds in China trip

Finance Minister Lim Guan Eng said the issuance of Panda bonds will be among the matters to be discussed during his maiden visit to China at the end of this month.

The trip will be Lim’s maiden visit since assuming the post of finance minister.

“I am going to China. Let me make an announcement when the discussion is finalised,” he told reporters after attending the 2020 Budget Consultation meeting today.

Lim was responding to questions if the issue of Panda bonds will be raised during his trip.

In February this year, China’s ambassador to Malaysia Bai Tian was reported to have said that the China Construction Bank had proposed to issue Panda bonds to help ease the government’s financial stress.

Lim reportedly said that Malaysia was looking forward to further improving bilateral trade with China to benefit both countries.

This year also marked the 45th anniversary of the establishment of diplomatic relations between Malaysia and China.

Bilateral trade between Malaysia and China climbed to an all-new high in 2018, rising 13 percent to RM443 billion from RM392 billion in 2017.

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