Bank of China officially opened its first branch office in Serbia, which will coordinate the activities of the bank in Southeastern Europe (SEE).
Serbia expects Bank of China to finance the construction of industrial facilities which will sell their production to markets where Belgrade has free trade.
“Bank of China provides an opportunity for Serbia to have open access to the growing market of financial instruments in yuan,” Vujovic said. “First of all, I think the panda bonds would enable Serbia to finance its debt and to continue reducing not only the share of debt in GDP, but also the cost of borrowing.”
Panda bonds are Chinese yuan-denominated bonds from a non-Chinese issuer, sold in China.