Industrial and Commercial Bank of China (ICBC)has recently issued Panda bonds worth RMB 1.5 billion for Chong Hing Bank Limited as the lead manager in China’s inter-bank market. The bonds are 3-year fixed-rate interest-bearing bonds, with a coupon rate of 3.6%. The funds raised will be used to support business expansion of Chong Hing's branches in Mainland China.

Panda bonds are known as RMB bonds issued by foreign institutions in China. Since 2015 when RBM joined the SDR, China's capital market has seen deepened two-way opening. In addition, the regulatory authorities released new rules on issue of Panda bonds featuring expanded scope of issuers and streamlined issue process, which provides favorable conditions for the rapid growth of Panda bonds.

Chong Hing Bank is a licensed bank established and registered in Hong Kong. Listed in July 1994 on the Stock Exchange of Hong Kong, it is one of the constituent stocks of the Hang Seng Composite Index Series. As of the end of June 2015, Chong Hing Bank has a head office and 47 branches in Hong Kong, one branch in Macau, one branch in Shantou, one sub-branch in Guangzhou, one sub-branch in Foshan, and representative offices in Shanghai and San Francisco.