Bloomberg's statistics show that the total outstanding debt of Panda Bond was only RMB 195 billion, compared with the size of China's onshore bond market which can be as high as RMB 70.4 trillion. It can be seen that the size of the Panda Bond market is still very small in relative to its development potential. HSBC recently said that many overseas investors are interested in issuing Panda Bond in China and Panda Bond can broaden the investment opportunities for overseas investors. It is expected that Panda Bond will become a key to further opening up the Chinese financial market.