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Pakistan aspires to increase the use of Chinese currency (RMB) in its trade and investment. These sentiments were expressed by the Minister for Finance, Dr. Shamsad Akhtar, during the inaugural ceremony of a bank established in Islamabad for the clearance of Chinese currency (RMB) transactions.
The Federal Minister for Finance highlighted that China has been Pakistan's largest trading partner and a major source of investment for many years. In this ceremony, Pakistan's Ambassador to China, Jiang Zaidong, and other dignitaries were present.
The establishment of an RMB clearing bank in Pakistan is expected to facilitate cross-border trade and cooperation between Pakistan and China, benefiting various sectors and businesses.
This initiative is seen as a significant step toward strengthening financial ties between the two countries. During his address, the Chinese Ambassador emphasized the importance of strong financial support from both sides' financial institutions to enhance their strategic cooperation under the Belt and Road Initiative.
The opening of the RMB clearing bank is viewed as a crucial financial support mechanism for furthering this collaboration.
