Foreign governments, Wall Street banks and multinational companies are flocking to China's domestic bond market as some of the world's cheapest borrowing costs turn the yuan into an increasingly attractive funding currency. The yuan-denominated bonds, also known as panda bonds, are sold by overseas issuers in China's onshore market and have become a major beneficiary of Beijing's push to internationalize its currency amid a widening gap between Chinese and Western interest rates. Issuance has