Pakistan and China have reaffirmed their long-standing financial partnership through a series of high-level meetings in Beijing, highlighting a new phase of cooperation in banking, investment, and economic reforms.
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, met with Dr. Pan Gongsheng, Governor of the People’s Bank of China (PBOC), and Mr. Liao Lin, Chairman of the Industrial and Commercial Bank of China (ICBC). The discussions emphasized stronger bilateral ties, enhanced financial collaboration, and greater integration with regional financial markets.
Key Highlights of the Meetings
- Economic Progress & Reforms: Senator Aurangzeb briefed Chinese officials on Pakistan’s recent economic improvements, ongoing reforms, and upgraded international credit ratings.
- China’s Role: The Finance Minister acknowledged China’s consistent financial support, especially in stability, refinancing, and development financing.
- ICBC Partnership: Pakistan expressed interest in expanding cooperation with ICBC in investment, trade financing, and financial diversification.
- Onshore Market Access: Talks included Pakistan’s plan to access Chinese onshore capital markets, a move that could boost investment channels and strengthen market confidence.
- Future Collaboration: Both sides agreed to explore new opportunities in banking, capital markets, and regional integration, marking a deeper stage of financial cooperation.
Looking Ahead
Senator Aurangzeb reaffirmed Pakistan’s commitment to creating a favorable investment climate and strengthening resilient financial systems. He expressed optimism that the Beijing meetings will pave the way for long-term cooperation, contributing to regional growth and prosperity.
