(MENAFN) China on Monday welcomed the Philippines" planned maiden Panda bond offering to diversify funding sources further, taking advantage of the renewed and strengthening ties between the two countries that soured over a sea dispute.
Finance Secretary Carlos Dominguez III"who spearheaded a "non-deal roadshow" in China last month to entice potential buyers of the Panda bonds"earlier said the government may raise around $200 million from the issuance of Panda bonds or yuan-denominated securities in the second half of the year.
In a press conference in Beijing, Chinese Foreign Ministry spokesperson Hua Chunying welcomed such a move from the Philippine government, adding that such cooperation would help develop Manila"s dilapidated infrastructure.
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