ISLAMABAD – Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb held important meetings on Monday in Beijing with Dr Pan Gongsheng, governor of the People’s Bank of China (PBOC), and Liao Lin, chairman of the Industrial and Commercial Bank of China (ICBC). During his meeting with the governor of the People’s Bank of China, the finance minister expressed deep appreciation for China’s longstanding political, diplomatic, and economic support to Pakistan. He briefed the governor on Pakistan’s recent economic performance, the government’s reform agenda, and positive outlook reflected in improved international credit ratings.
The minister acknowledged the crucial role of the PBOC in supporting Pakistan through multilateral engagements and in strengthening financial cooperation between the two countries. He underscored the importance of deepening financial integration and expanding cooperation in areas of mutual interest. In his meeting with the chairman of ICBC Liao Lin, the finance minister conveyed Pakistan’s gratitude for ICBC’s continued support in development financing, commercial facilities, and the refinancing of existing obligations. He emphasized that ICBC’s strong presence in Pakistan reflects the deepening financial and economic partnership between the two countries. The minister further discussed prospects for enhanced cooperation in investment, trade financing, and Pakistan’s forthcoming initiatives in financial diversification.
The finance minister underlined that Pakistan’s economic reform programme is designed to deliver long-term stability, resilience, and sustainable growth. He emphasized that partnerships with Chinese financial institutions are not only vital for meeting immediate financing needs but are also integral to Pakistan’s broader strategy of diversification, financial innovation, and regional integration. He highlighted that new initiatives, such as accessing the Chinese onshore markets, will help open fresh avenues for investment, strengthen market confidence, and align Pakistan’s financial system more closely with regional dynamics. Both sides agreed that the Pakistan–China economic partnership has entered a new phase, with opportunities to deepen cooperation across banking, investment, and capital markets. The finance minister stressed that Pakistan is determined to consolidate these opportunities by creating an enabling environment for investment, building resilient financial structures, and pursuing reforms that expand the scope of bilateral cooperation.
Senator Aurangzeb reaffirmed Pakistan’s commitment to a forward-looking partnership with China, where financial cooperation will serve as a cornerstone for broader economic engagement. He expressed confidence that today’s meetings will further strengthen the roadmap for enhanced collaboration, ensuring that Pakistan–China ties continue to contribute to stability, development, and shared prosperity in the region.
Aurangzeb Holds Key Meeting With Hongta Securities Chairman
Senator Muhammad Aurangzeb also held an important meeting in Beijing with Jing Feng, Chairman of Hongta Securities. During the meeting, the finance minister highlighted Pakistan’s recent economic performance and reaffirmed the government’s commitment to continuing structural reforms aimed at achieving sustainable and inclusive economic growth. Senator Aurangzeb further underscored the growing confidence of int’l credit rating agencies in Pakistan’s economic outlook. He noted with satisfaction the recent upgrades, including Moody’s raising Pakistan’s rating from Caa2 to Caa1 (Stable Outlook), Fitch upgrading from CCC+ to B- (Stable Outlook), and Standard & Poor’s (S&P) similarly upgrading from CCC+ to B- (Stable Outlook). During meeting, both sides discussed avenues for strengthening cooperation in capital markets and enhancing financial sector linkages between Pakistan and China.
The finance minister emphasized that Pakistan is working to diversify its financial options and deepen engagement with leading global and Chinese institutional investors.
“Pakistan is firmly committed to its reform agenda and greatly values its partnership with Chinese investors. Together, we can unlock new opportunities that will strengthen our economies and deepen our financial cooperation,” Senator Aurangzeb said.
