Pakistan's Panda Bond successful, Finance Minister announces new round of financial cooperation with China
Published 1 hour ago | By Pak24tv
After the launch of Pakistan’s first Panda Bond in Beijing, Finance Minister Muhammad Aurangzeb told CGTN that this marks the beginning of a new era of financial cooperation between Pakistan and China. For the first time, Pakistan has gained access to China’s domestic capital market, the world’s second largest.
The total volume of the Panda Bond program is $1 billion, while the initial issuance was $250 million, supported by the Asian Development Bank and the Asian Infrastructure Investment Bank. Representatives from China’s Ministry of Finance and the People’s Bank of China were also present at the event.
Senator Aurangzeb said that this success will not only benefit Pakistan but will also promote the international use of the Chinese currency RMB. He said that about a quarter of trade between Pakistan and China is already being done in RMB. Regarding CPEC, he said that the infrastructure was built in the first phase, now the focus in the second phase is on business cooperation and industrial partnership.
The Finance Minister also said that ongoing reforms in tax, energy, government institutions, and digital governance are boosting investor confidence and that Pakistan has maintained economic stability despite current regional tensions.
