From the
Ursidae entry on Wikipedia:
The Giant Panda's taxonomy has long been debated. Its original classification by Armand David in 1869 was within the bear genus Ursus, but in 1870 it was reclassified by Alphonse Milne-Edwards to the raccoon family. In recent studies, the majority of DNA analyses suggest that the Giant Panda has a much closer relationship to other bears and should be considered a member of the family Ursidae. The status of the Red Panda remains uncertain, but many experts, including Wilson and Reeder, classify it as a member of the bear family. Others place it with the raccoons in Procyonidae or in its own family, the Ailuridae. The many similarities between the two pandas are thought to represent convergent evolution for feeding primarily on bamboo.
Great video. How often we underestimate animal intelligence.