BEIJING – China and Pakistan have established deeper financial connections to simplify processes for enterprises engaged in cross-border trade, according to Shiakh Muhammad Shariq, the Chief Representative of the National Bank of Pakistan (NBP) in Beijing. Speaking at the Supply Chain Services Panel during the 3rd China International Supply Chain Expo, Shariq highlighted how these strengthened ties would help resolve critical financial and liquidity challenges faced by businesses in an increasingly complex international environment.
Shariq emphasised that the global supply chain is evolving rapidly, especially with the digital transformation underway. This shift towards more innovative and sustainable development requires collaboration between countries, particularly those involved in the Belt and Road Initiative (BRI), including Pakistan through the China-Pakistan Economic Corridor (CPEC).
One of the key solutions discussed was the provision of comprehensive, localized financial services to reduce conflicts between traders, which is essential for both large corporations and small startups. Shariq stressed the need for a diversified path in the global supply chain to support countries participating in the BRI, enabling them to create a more efficient and resilient network.
The NBP official also discussed the importance of optimising financing mechanisms and establishing a unified framework to support smoother capital flows and reduce reliance on a single financing source. By standardising practices and facilitating smoother communication across diverse cultures and customs, the countries can build a more integrated global supply chain.
Shariq also shared NBP’s role in facilitating the financial link between China and Pakistan, noting that the bank has been operating in China since 1981, helping Chinese companies explore opportunities in Pakistan’s energy, agriculture, e-commerce, and digital technology sectors. He highlighted that for small and medium-sized enterprises, financial liquidity is the backbone of successful cross-border operations, and that a stable supply chain ecosystem fosters better cooperation between China and Pakistan.
