The Chinese Ministry of Finance says France will encourage its institutions to issue yuan-denominated "panda bonds" to boost financial cooperation between the two countries.

The ministry says the two countries will continue to support the development of Paris' offshore renminbi market. The ministry also says China would also welcome French institutions to apply for status as RMB Qualified Foreign Institutional Investors.

In addition, the ministry said China would also consider increasing France's RQFII quota in conformity with investor demand.