Foreign investors take 54% of Pinduoduo bond issuance in China H1 2026

Foreign issuers accounted for 54% of capital raised from Pinduoduo bond sales in China during H1 2026, indicating strong international demand for Chinese corporate debt. This marks a notable shift in foreign participation in China's onshore bond market, though the specific drivers and sustainability remain unclear. The development signals growing foreign appetite for Chinese assets, potentially easing capital outflow concerns.