Islamabad: Pakistan is preparing to enter the Yuan bond market as part of its strategy to strengthen economic ties with China, Finance Minister Muhammad Aurangzeb announced. The move, aimed at issuing a Panda bond valued at approximately $200 million to $250 million by the end of the year, reflects Pakistan’s ongoing efforts to diversify its financial partnerships.

According to a statement by Ministry of Information and Broadcasting, Minister Aurangzeb outlined the country’s economic plans during an interview with Nikkei Asia. He expressed optimism about achieving a “B” rating through adherence to reform conditions set by the International Monetary Fund (IMF).

Aurangzeb highlighted the China Pakistan Economic Corridor as a central element of China’s Belt and Road Initiative, underscoring its significance for both economic and geopolitical interests. The government, he noted, is prioritizing the safety of all foreign nationals, including Chinese citizens, within Pakistan.

The Finance Minister also emphasized the importance of establishing an export-led growth model and attracting foreign direct investment. He expressed a desire for Pakistan to exit the current IMF program, its 25th, with a sustainable economic framework that would allow the country to re-enter the international capital market.