Pakistan–China Economic Partnership Enters New Phase, Finance Minister Says
Pakistan’s Finance Minister Muhammad Aurangzeb said the Pakistan–China economic partnership has entered a new phase, announcing that Pakistan plans to issue a Panda Bond in China’s capital market in the coming weeks.
In an interview with China Global Television Network (CGTN), Aurangzeb said Pakistan is fully prepared for the Panda Bond issuance, which will give the country access to the world’s second-largest capital market. He noted that the move would help reduce reliance on the US dollar and diversify Pakistan’s financing sources beyond the euro and sukuk markets.
The finance minister said bilateral relations between Pakistan and China continue to grow stronger, more stable and more diversified, evolving into a broad, market-based economic partnership. He described China as Pakistan’s largest trading partner, adding that bilateral trade volume has reached about $17 billion in the first eight months of the current year.
Aurangzeb highlighted China’s crucial role in Pakistan’s economic development, particularly through the China-Pakistan Economic Corridor (CPEC). He said the first phase of CPEC focused on core infrastructure, including energy projects, roads, ports and airports.
Following recent meetings between Chinese leaders and Prime Minister Shehbaz Sharif, Aurangzeb said the second phase of CPEC has formally begun. He added that Chinese investment is now expanding into agriculture, minerals and mining, artificial intelligence and the digital economy.
According to the finance minister, Pakistan and China are aligned not only on regional and geopolitical priorities but also on a shared long-term economic agenda.
