Beijing, China: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, addressed the inaugural Panda Bond Issuance Ceremony at the Embassy of Pakistan in Beijing today, marking a historic milestone in Pakistan’s economic relations with China and the international capital markets. The event celebrated the successful debut of Pakistan’s first Panda Bond, emphasizing a significant step in financial collaboration and regional connectivity.

According to Press Information Department, the ceremony was attended by representatives from the Government of China, multilateral development banks, rating agencies, and other financial institutions. Senator Aurangzeb highlighted that the Panda Bond issuance coincided with the 75th anniversary of diplomatic relations between Pakistan and China, built on mutual respect and strategic trust. He emphasized that the bond reflects the maturity of their economic cooperation and the confidence Chinese investors have in Pakistan’s economic outlook.

The Panda Bond Programme, valued at CNY 7.2 billion, was developed over two years in coordination with Chinese regulators and financial partners. The debut issuance of CNY 1.75 billion was oversubscribed, demonstrating strong investor confidence. The Finance Minister acknowledged China International Capital Corporation as the lead underwriter and expressed gratitude to the Asian Infrastructure Investment Bank and the Asian Development Bank for their credit-enhancement guarantees.

Senator Aurangzeb noted that the bond is Pakistan’s first Sustainable Panda Bond, with funds allocated to water, energy, and health projects, reinforcing the government’s commitment to sustainable growth. He also discussed Pakistan’s economic progress, citing improvements in GDP growth, inflation reduction, and foreign exchange reserves.

The Finance Minister reiterated Pakistan’s commitment to the IMF programme and ongoing reforms in taxation, energy, and state-owned enterprises. He expressed appreciation to the Chinese government and financial institutions for their support and looked forward to continued financial connectivity and cooperation between the two nations.