Research On Legal Issues Of Panda Bonds

Panda bonds are essentially an international bond.Since 2002,China has initially explored the development of panda bonds.In 2013,the implementation of the "Belt and Road" initiative and the rapid expansion of financing needs for infrastructure projects in countries along the"Belt and Road" led to the rapid development of panda bonds as a new financing method,which in turn promoted the opening of Chinese capital projects and RMB globalization.However,the current panda bond legal system is still in the initial construction stage,so its research is of great value.This article focuses on the legal issues in the issuance and trading of panda bonds.It consists of five parts,including the introduction and four parts.The first part mainly clarifies the concept of panda bonds and its connection with international bonds,foreign bonds,and RMB bonds.It classifies the panda bonds from the bond issuers and the purpose of the funds raised,summarizes their development history,and analyzes their development on the Belt and Road,the importance of project financing,capital project development,and RMB internationalization.The second part focuses on the analysis of the legal system of panda bond issuance audit from the perspective of domestic law,elaborating the bond issuer audit system,the qualification conditions for investors and underwriting institutions,and the issuance method In connection with the use of funds raised system,it is recommended to improve the relevant legislation and establish a differentiated issuance system for issues such as unclear legal basis for bond issuance and over-unity of issuance conditions.The third part analyzes the panda bond information disclosure system,explains the main content of the information disclosure system from the aspects of temporary information disclosure reports on material matters,information disclosure substantive requirements,false statements,etc.,and the main legal provisions of the information disclosure.In-depth explanation.The fourth part describes the panda bond investor protection system,including the bond holder meeting system,bond trustee manager system,bond dispute resolution system,explains the main contents of each system,and addresses the negative effects of the bond trustee manager system And the difficulty in implementing the bond dispute resolution system,it is recommended to introduce a substantial trust legal relationship and establish a diversified dispute resolution mechanism.