Etching solution, touch panel and manufacturing method thereof

A manufacturing method of a touch panel, comprising:

• providing a substrate, wherein the substrate has a visual area and a peripheral area;
• disposing a metal layer and a metal nanowires layer, wherein a first portion of the metal nanowires layer is located in visual area, and a second portion of the metal nanowires layer and the metal layer are located in the peripheral area;
• and
• performing a patterning step, wherein the patterning step comprises etching the metal nanowires layer by using an etching solution and etching the metal layer by using a second etching solution, to form the metal layer into multiple peripheral wires and simultaneously form the second portion of the metal nanowires layer into multiple etching layers, wherein the etching solution comprises 0.01-50 wt % of hydrogen peroxide, 0.1-10 wt % of a metal corrosion inhibitor, 0.1-10 wt % of a stabilizer, and a balance of a solvent.