Karachi: The capital market collaboration between Pakistan and China reached a significant milestone with the historic listing of Service Long March Tyres on the Pakistan Stock Exchange. This marks the first public listing in Pakistan of a company backed by Chinese investment, signifying a noteworthy advancement in the financial cooperation between the two nations.

According to Radio Pakistan, the company is a joint venture between Pakistan’s Services Group and China’s Chaoyang Long March Tyre Company. The Initial Public Offering (IPO) raised approximately $28 million, establishing it as the largest private-sector IPO in Pakistan’s history.

Officials highlighted the investment’s potential to enhance local tyre manufacturing capacity, decrease reliance on imports, and increase export prospects. The development is viewed as a promising indicator for future Pakistan-China collaboration in investment, industrial growth, and financial integration.

Both countries are anticipated to further their cooperation in market infrastructure and innovative investment products, including Exchange Traded Funds, with an increasing emphasis on Islamic finance.