China Issues Yuan-Denominated Green Bonds in Canada Amid Warming Bilateral Relations

• •China issued 4 billion yuan in green bonds in Canada, its first yuan-denominated bonds there.
• •The issuance attracted over 54 billion yuan in orders, indicating strong demand from investors.
• •This move is part of China's strategy to enhance the international use of the yuan amid improving bilateral relations.

On November 9, 2026, China issued 4 billion yuan ($846 million) in sovereign green bonds in Canada, marking its first yuan-denominated bond issuance in the country. The bonds, split between three-year and five-year tenors, attracted over 54 billion yuan in orders, indicating strong investor interest. This issuance follows recent high-level meetings between Chinese and Canadian officials, which resulted in significant tariff reductions and an extension of refunds on certain Canadian tariffs for Chinese steel. The bond issuance is part of China's strategy to expand the international use of its currency and reflects growing economic cooperation between China and Canada. The proceeds from these green bonds are designated for environmentally beneficial projects, aligning with both nations' emphasis on green development.