BEIJING: Pakistan has taken a significant step in its financial strategy by issuing its first Panda Bond, marking an important development in the country’s economic collaboration with China. Finance Minister Muhammad Aurangzeb described the issuance as a transformational move that enhances Pakistan’s financial landscape and strengthens its economic ties with China.

According to Radio Pakistan, Aurangzeb shared these insights during an interview with China Global Television Network (CGTN) following the official Panda Bond Issuance Ceremony in Beijing. He stated that the successful issuance demonstrates the growing confidence of both Chinese institutions and global investors in Pakistan’s macroeconomic stability, reform agenda, and economic trajectory.

Aurangzeb highlighted that the Panda Bond issuance plays a crucial role not only in Pakistan’s financing strategy but also in promoting the international use of the Renminbi (RMB). He pointed out that nearly 25% of the trade between Pakistan and China is currently settled in RMB and Chinese Yuan (CNY), signifying deepening financial integration and an expanding economic partnership.

The Finance Minister further emphasized that the strategic priorities of Pakistan and China are closely aligned in their efforts to enhance connectivity, trade, investment, and sustainable economic growth.