Recently, the relevant person in charge of the Ministry of Finance of China said that the country does not have much external financing needs, which seems to be reducing the concern of the market on China's overseas bonds. However, Anbound believes that China should encourage overseas bonds, whether it is government bonds or corporate bonds to retain strong overseas financing capacity, which is beneficial for the stability of market confidence and of the RMB exchange rate. In addition, China should also develop the Panda bond market to encourage foreign investors to issue RMB bonds in China.