Pakistan is gearing up to issue yuan-denominated “panda bonds” this year, a move aimed at bolstering its financial integration with China.

This strategic decision was unveiled by Minister for Finance and Revenue Muhammad Aurangzeb, who underscored the significance of this step in an interview with China Daily.

Aurangzeb emphasized the potential for Pakistan to draw on China’s expertise to boost financial inclusion through digital advancements. He described the enduring relationship between Pakistan and China as one founded on mutual trust and strategic alignment.

Expressing deep appreciation for China’s consistent backing, Aurangzeb detailed the extensive cooperation between the two nations, highlighting collaborations in agriculture, drone technology, and other pivotal sectors.

Further, he commended China’s pivotal role in propelling global economic growth, praising its steadfast dedication to openness and multilateralism.