Pakistan’s Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, met Chinese Finance Minister Lan Fo’an in Bangkok, Thailand, on the sidelines of the World Bank Group–IMF Annual Meetings 2026. The talks focused on deepening bilateral financial cooperation, expanding access to international capital markets and advancing regional economic collaboration.
The two ministers reviewed Pakistan’s first Panda Bond issuance, which was described as successful. The deal included regulatory support and credit enhancement from the Asian Infrastructure Investment Bank (AIIB), a competitive 2.5% coupon and strong investor demand.
Panda Bond plans and return to Eurobond market
Aurangzeb said Pakistan intends to build a sustained presence in the Chinese capital market as a repeat sovereign issuer. The discussions also covered Pakistan’s return to the Eurobond market after four years.
Further Panda Bond issuances are planned under an approved RMB 7.2 billion programme, with continued AIIB support.
SCO chairmanship and proposed development bank
The ministers also discussed Pakistan’s chairmanship of the Shanghai Cooperation Organisation (SCO). Preparations included the upcoming summit and the SCO Finance Ministers’ Meeting in Islamabad, and Lan Fo’an said he intends to attend the Islamabad meeting.
Both sides exchanged views on the proposed SCO Development Bank, which they described as an important step for regional financial cooperation. The Chinese side asked for Pakistan’s active participation in ongoing consultations, while Aurangzeb reaffirmed Pakistan’s commitment to setting up the bank.
Infrastructure talks and praise for Pakistan’s recovery
The meeting also covered infrastructure ties. Lan Fo’an referred to progress towards consensus on proposed changes to the route of a China–Pakistan highway project.
Aurangzeb highlighted Pakistan’s progress towards macroeconomic stability and thanked China for its long-standing support during difficult economic times. Lan Fo’an welcomed Pakistan’s improving economic position and its renewed access to global financial markets.
