BEIJING: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, on Friday addressed the inaugural Panda Bond Issuance Ceremony held at the Embassy of Pakistan in Beijing, describing the successful debut issuance of Pakistan’s first-ever Panda Bond as a historic milestone in the country’s economic and financial engagement with China and the international capital markets.
Addressing representatives of the Government of China, multilateral development banks, rating agencies, financial institutions, investors, and distinguished guests, the Finance minister said the successful issuance reflected trust, partnership, innovation, financial collaboration, and a shared commitment to sustainable development and regional connectivity.
The Finance minister stated that the occasion carried special significance as Pakistan and China celebrate 75 years of diplomatic relations founded on mutual respect, strategic trust, and unwavering support for each other’s progress. He noted that the Panda Bond issuance demonstrated the growing maturity of bilateral economic cooperation and the confidence of Chinese institutions and investors in Pakistan’s economic direction. Pakistan, he added, is proud to become the first Panda Bond issuer from South Asia.
Senator Muhammad Aurangzeb informed participants that Pakistan had successfully established a CNY 7.2 billion Panda Bond Programme after two years of extensive preparation and coordination with Chinese regulators, development partners, advisors, and market participants. He noted that the debut issuance of CNY 1.75 billion received an overwhelmingly positive response and was oversubscribed, reflecting strong investor confidence in Pakistan’s economic outlook and reform agenda.
The Finance minister appreciated the leadership and support provided by China International Capital Corporation (CICC) as lead underwriter, alongside Bank of China, Standard Chartered Bank, and Hongta Securities as joint lead underwriters as well as HBL as financial advisor.
He also expressed gratitude to the Asian Infrastructure Investment Bank (AIIB) and the Asian Development Bank (ADB) for their credit-enhancement guarantees, which helped facilitate Pakistan’s successful entry into the Chinese onshore bond market.
Highlighting the sustainable dimension of the issuance, the Finance Minister stated that this was Pakistan’s first Sustainable Panda Bond, with proceeds earmarked for projects in the water, energy, and health sector underscoring the Government’s commitment to inclusive and sustainable growth.
Copyright Business Recorder, 2026
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