Bank of China opens Islamabad branch

“The opening of the Islamabad branch of the Bank of China is another milestone in deepening financial and economic cooperation between the two countries and holds great significance in expanding bilateral economic and trade cooperation,” highlighted Pakistan’s Finance Minister Ishaq Dar on Monday.

Speaking on behalf of the Government of Pakistan at the opening ceremony of the Bank of China branch in Islamabad, the minister congratulated the Bank of China on further expanding its service network in Pakistan. He added that “the Pakistani government will promote the development of Pak-China cooperation with more firm determination and more effective measures and will continue to consolidate and deepen the all-weather strategic partnership.”

Xuan Changneng, deputy governor of the People’s Bank of China, pointed out that the opening of the Islamabad branch of the Bank of China on the occasion of the 10th anniversary of the launch of the China-Pakistan Economic Corridor is a positive step to strengthen financial ties and deepen financial cooperation between China and Pakistan. He also highlighted the broad prospects for cooperation between the two countries.

Liu Jin, president of the Bank of China, stated that the Bank of China will continue to leverage its advantages in global operations, actively promote the high-quality co-construction of the “Belt and Road Initiative,” and play a greater role in supporting Pakistan’s infrastructure construction, industrialization transformation, and international trade development.

Li Yong, counselor of commercial affairs at the Chinese Embassy in Pakistan, mentioned that China has been Pakistan’s largest trading partner for nine consecutive years, serving as the largest source of imports and the second-largest export destination for Pakistan. He also highlighted that China is the largest source of foreign direct investment in Pakistan. He expressed hope that the Bank of China would seize the opportunities for cooperation between the two countries and contribute to the facilitation of the CPEC construction.

Nearly 100 representatives from government departments and enterprises of both countries attended the opening ceremony.