Jakarta, June 26 -- Finance Minister Purbaya Yudhi Sadewa announced plans to raise the issuance target for Panda Bonds to over US$1 billion, following strong enthusiasm from investors in the Chinese market.

The decision to expand the target will depend heavily on the final appetite of the Chinese buyers as the government monitors real-time financial developments.

"We will see what the market looks like. If demand is high, then we will increase it," Purbaya said during a media briefing here on Friday.

The minister explained that Indonesia's overall global bond issuance requirement for the year stands at approximately US$3 billion.

If Chinese market conditions remain favorable, the government intends to maximize the yuan-denominated ins...