Finance Minister Muhammad Aurangzeb has described Pakistan’s first-ever Panda Bond issuance in China as a major milestone in economic and financial cooperation with Beijing. The debut marks Pakistan’s entry into China’s onshore capital market, one of the world’s largest and most liquid financial systems.
The issuance, valued at CNY 1.75 billion, was oversubscribed, reflecting strong investor demand and confidence in Pakistan’s economic outlook. Officials said the programme was part of a broader CNY 7.2 billion bond framework developed after two years of planning and coordination with Chinese regulators and financial institutions.
Read more: Pakistan issues first Panda Bond in China’s onshore capital market
Aurangzeb said the achievement represents a “new chapter” in Pakistan’s engagement with international capital markets. He added that the bond strengthens long-term financial ties with China and highlights increasing trust from global investors. The bond also marks Pakistan as the first South Asian country to issue a Panda Bond.
The issuance is classified as a sustainable bond, with proceeds directed toward water, energy, and health-related projects. International financial partners, including development banks and underwriters, provided credit enhancement and advisory support for the transaction.
Read more: Pakistan nears $250m Panda bond launch, Aurangzeb says
The finance minister said Pakistan is pursuing broader economic reforms, including tax digitalisation, energy sector restructuring, and privatisation efforts. He added that the government remains committed to IMF-backed reforms to stabilize macroeconomic conditions and improve investor confidence.