Pakistan seeks deeper financial cooperation with China during Beijing visit

Finance Minister Senator Muhammad Aurangzeb on Monday held high-level meetings in Beijing with senior Chinese financial officials to strengthen cooperation in banking, investment, and capital markets as Pakistan advances reforms to stabilize its economy.

Aurangzeb met with Pan Gongsheng, Governor of the People’s Bank of China (PBOC), and Liao Lin, Chairman of the Industrial and Commercial Bank of China (ICBC), according to a statement from the Finance Division.

The minister briefed the PBOC governor on Pakistan’s recent economic performance and ongoing government-led reform agenda, which has contributed to improved international credit ratings. He stressed the need for greater financial integration and highlighted plans to access Chinese onshore markets to create new investment channels and boost confidence in Pakistan.

In discussions with ICBC’s Liao, Aurangzeb acknowledged the bank’s support in development financing, commercial facilities, and refinancing obligations, and explored opportunities to expand cooperation in investment and trade financing.

Both sides described the Pakistan–China economic partnership as entering a “new phase,” with potential to broaden collaboration across banking and capital markets. Aurangzeb reaffirmed Pakistan’s commitment to advancing financial cooperation as a central element of bilateral relations, contributing to regional stability and shared economic growth.