Aurangzeb meets chief of China’s top financial services firm Hongta Securities

BEIJING: In a high-level meeting held in Beijing, Pakistan’s Finance Minister Muhammad Aurangzeb met with the Chairman of Hongta Securities to discuss economic cooperation and financial integration between Pakistan and China. The discussions centered on enhancing capital market linkages and attracting institutional investment.

Also read: Moody’s upgrades Pakistan rating to “stable”; over improved external position

Hongta Securities is one of China’s leading financial services firms, and the engagement signals a step forward in Pakistan’s efforts to attract foreign capital into its markets.

During the meeting, Aurangzeb outlined Pakistan’s ongoing economic reforms and commitment to sustainable growth. He reiterated the government’s focus on financial diversification and building robust partnerships with both global and Chinese institutional investors.

“Our reform agenda is clear, and we remain committed to driving sustainable and inclusive economic growth,” said Aurangzeb, adding, “Pakistan is seeking greater integration with international markets, and partnerships with firms like Hongta Securities are vital to this goal.”

He also highlighted growing global confidence in Pakistan’s economic outlook. “Leading credit rating agencies have acknowledged our progress,” he noted, citing Moody’s recent upgrade of Pakistan’s sovereign rating and Fitch’s decision to assign a ‘stable’ outlook.

The meeting comes as part of Islamabad’s broader push to deepen financial and investment ties with China as part of a long-term strategy to strengthen the country’s economic foundations.

MOODY’S UPGRADES PAKISTAN RATING TO “STABLE”

Credit rating agency Moody’s has upgraded Pakistan’s rating from ‘positive’ to ‘stable’ citing improvement in the country’s external position.

The Government of Pakistan’s local and foreign currency issuer and senior unsecured debt ratings have been upgraded from Caa2 to Caa1, and the outlook from positive to stable.

The upgrade “reflects Pakistan’s improving external position, supported by its progress in reform implementation under the International Monetary Fund (IMF) Extended Fund Facility (EFF) program,” Moody’s report issued on Wednesday said.

Also read: S&P Global lifts Pakistan’s credit rating ‘B-‘ from ‘CCC+’, outlook stable

Moody’s Ratings cited improving external buffers, fiscal consolidation, and progress on reforms under the IMF program.

The upgrade reflects growing confidence in Pakistan’s ability to manage external debt repayments, shore up foreign exchange reserves, and broaden its tax base, despite continued political uncertainty and weak governance.