Pakistan is making bold strides in global finance with its inaugural Panda Bond roadshow in Beijing from July 7 to 11, 2025, reflecting the country’s commitment to diversifying its funding and strengthening ties with China’s capital markets.
Pakistan’s Ministry of Finance launched a non-deal investor roadshow (NDR) in Beijing to promote its first-ever Panda Bond, a renminbi-denominated bond targeting Chinese investors. Led by Finance Minister Muhammad Aurangzeb, the roadshow engaged potential investors, underwriters, Chinese rating agencies, and legal advisors. Discussions, guided by economic advisor Khurram Schehzad, focused on Pakistan’s macroeconomic outlook, ongoing debt management reforms, and the structure of the bond. The Panda Bond aims to raise between $200 million and $300 million, supported by multilateral institutions such as the Asian Infrastructure Investment Bank (AIIB), which may offer credit guarantees to mitigate risk.
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This strategic move aims to diversify Pakistan’s funding sources, reduce its reliance on dollar-denominated borrowing, and improve its credit rating to a single ‘B’. The roadshow’s strong initial interest signals growing investor confidence in Pakistan’s economic reforms and its integration into China’s onshore capital market.
Finance Minister Aurangzeb also invited the Chinese private sector and export industries to relocate their production to Pakistan, positioning the country as a regional export hub under the second phase of the China-Pakistan Economic Corridor (CPEC). This phase emphasises special economic zones, agriculture, and information technology, with enhanced safety measures to protect foreign investors.