Islamabad: President Mamnoon Hussain inaugurated Bank of China’s operations in Pakistan on 7th November, using the platform to say that the neighboring country has emerged as a major investor and partner for Islamabad. Addressing the ceremony in the federal capital, the president said the move will take this historic friendship to new heights by strengthening the already existing deep relations between the two iron brothers. The opening of Bank of China indicates that the benefits of China-Pakistan Economic Corridor (CPEC) would soon start reaching the masses.
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Pakistan was a natural hub for regional trade activities because of its location at the crossroads of Central Asia, West Asia, and the Middle East, while CPEC had further increased its importance. The president assured Bank of China that the government and the State Bank of Pakistan (SBP) would continuously support it in expanding its operations in Pakistan.
The president said that hard work of past several years had created an excellent business environment in Pakistan and the situation was favorable for domestic and foreign investments, while the country’s strong and huge consumer market was further increasing the effectiveness of these factors. Bank of China Chairman Chen Siqing said it was a great honor to be launching operations in Pakistan, adding that the Karachi branch is the first in South Asia.