The People’s Bank of China published a readout of Governor Pan Gongsheng’s meeting with Brazil’s Finance Minister Fernando Haddad’s representative Dourigan, saying the two sides agreed to deepen bilateral financial cooperation and strengthen macroeconomic policy coordination. The discussions focused on expanding investment and financing links, promoting the use of local currencies in bilateral business, improving connectivity between financial market infrastructure and using the China-Brazil financial strategic cooperation working group more actively. The two sides said they will further advance financial market connectivity and support closer cooperation between Chinese market institutions and Brazil’s stock exchange, including a prospective memorandum of understanding involving China Central Depository and Clearing and the China Foreign Exchange Trade System. They also backed a larger role for the China-Brazil Sustainable Development Expansion Capacity Cooperation Fund, with projects in areas including climate change and clean energy, and agreed to strengthen coordination through the Group of 20, BRICS and the International Monetary Fund. During the meeting, Pan and Dourigan witnessed the Brazilian Finance Ministry submit an application letter to the National Association of Financial Market Institutional Investors for a sovereign panda bond issue. The release said Brazil would become the first Latin American country to register and issue a sovereign panda bond.
Central Bank of the Republic of China2026-06-25
People's Bank of China and Brazil advance financial cooperation and witness Brazil’s sovereign panda bond application
The People’s Bank of China said China and Brazil agreed to deepen bilateral financial cooperation, including local currency use, investment and financing links, financial market connectivity and coordination in multilateral forums. The two sides also witnessed Brazil’s Finance Ministry submit an application for a sovereign panda bond issue in China’s interbank market. The release said Brazil would become the first Latin American country to register and issue a sovereign panda bond.