In a move designed to boost the issuance of Panda bonds and encourage foreign participation in the Chinese bond market, the People’s Bank of China (the Chinese central bank) and the Ministry of Finance jointly issued the Administration of Issuance of Overseas Institutional Bonds in the National Inter-bank Bond Market Interim Measures which were promulgated on, and took effect on, 8 September 2018 (the "2018 Panda Bond Measures").