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KASB KTS hosts seminar to mark China’s 75th Anniversary

Nadeem Naqvi highlights technological transfer and investment Opportunities with China

KASB KTS hosts seminar to mark China’s 75th Anniversary

Manzar Naqvi

KARACHI: In a significant online address during a seminar commemorating the 75th founding anniversary of China, Nadeem Naqvi, the Managing Director of the Pakistan Stock Exchange (PSX), emphasized the enduring and robust relationship between the PSX and China. He highlighted the pivotal role of three major Chinese exchanges – namely the China Financial Futures Exchange, Shanghai Stock Exchange, and Shenzhen Stock Exchange – which serve as key shareholders in the PSX.

The seminar was meticulously organized by KASB K Trade to celebrate the Diamond Jubilee of China, held at their office, which accommodated a modest gathering of up to 30 attendees within a limited space. The event featured a mix of speakers participating both in-person and online, including members from the China Economic Net (CEN) team, with Ms. Wang Kai attending virtually. Among the key speakers were prominent figures such as Nadeem Naqvi, Hina Rabbani Khar, the former Federal Minister of State for Foreign Affairs, Mahmood Nawaz, President of the Sindh Agri Board, Ali Farid Khawaja, Chairman of K Trade, Ali Hussain, Director of The Organic Meat Company, and Danish Lakhani. Muhammad Ali Khawaja effectively served as the online moderator for the ceremony.

During his address, Naqvi pointed out that over the past seven years, the PSX has experienced substantial benefits from Chinese investments and expertise, particularly through advancements in technology transfer. He noted that Shenzhen’s state-of-the-art trading engine was introduced to the PSX at a minimal cost, significantly enhancing the operational capabilities of the exchange.

Furthermore, Naqvi elaborated on the PSX’s ongoing initiatives, mentioning plans to display Pakistan’s stock market data on Chinese investor screens within the next six months. He also discussed the exploration of cross-border products, such as Exchange-Traded Funds (ETFs), as a means to further enhance collaboration between the two nations.

Highlighting the opportunities available, Naqvi stated that Pakistan’s stock market stands out as one of the top performers globally, thereby presenting compelling investment prospects for Chinese investors. He also emphasized that Pakistan’s fixed-income securities offer attractive returns, providing another viable investment avenue for Chinese institutional investors.

Expressing optimism, Naqvi conveyed his belief in the tremendous potential for further collaboration, including the prospect of listing Chinese companies involved in Pakistan on the PSX, thereby strengthening economic ties even further.

Hina Rabbani Khar, addressing the audience online, provided a nuanced perspective on China’s evolving role in the global arena and underscored the importance of the China-Pakistan partnership within the current geopolitical landscape. She observed that the world is undergoing rapid changes and noted that her twelve years of political experience have revealed a clear departure from the post-World War II principles of globalization and liberal democracy. The once prevalent optimism surrounding these ideals, championed by thinkers like Fukuyama, has been supplanted by a stark reality filled with conflicts and divisions, as exemplified by ongoing crises in the Middle East and other regions.

Hina remarked that as nations navigate the current geopolitical landscape, particularly regarding the U.S. perception of China as a threat rather than an opportunity, it is crucial to recognize that this fear is prompting misguided responses from countries worldwide. She pointed out that the U.S. has shifted its focus from combating terrorism to addressing the rising influence of China and a revisionist Russia, a significant change that is clearly reflected in recent defense strategies.

She further added that China’s remarkable growth, particularly in technology and production, has raised global concerns. For instance, its rapid advancements in electric vehicles and the recent imposition of tariffs by the U.S. highlight the complexities of our interconnected world. Despite these challenges, Pakistan has steadfastly embraced its relationship with China, having historically been one of the first countries to sign a free trade agreement with it.

Hina emphasized that the China-Pakistan partnership runs deep, transcending superficial narratives. This collaboration involves strategic and multilateral cooperation, with both nations supporting one another in international forums. They share a mutual commitment to pursuing sovereign paths to development, firmly rejecting imposed orders that fail to consider unique national contexts.

However, she cautioned that it is vital to critically assess how this partnership can evolve beyond mere infrastructure projects to encompass significant technological collaboration. China has emerged as a global leader in sectors such as artificial intelligence and space exploration, and Pakistan must strive to align more closely with these advancements.

Concluding her address, Hina asserted that it is crucial for Pakistan to leverage its friendship with China to foster industrial and technological growth. This involves moving beyond a mere reliance on infrastructure projects to cultivate innovations that can benefit both nations and the broader global community. Such a transition is essential for creating an ecosystem of sustainable growth in Pakistan.

All other speakers also spoke highly of the enduring Sino-Pak friendship, underscoring the numerous benefits derived from the China-Pakistan Economic Corridor (CPEC), which stands as the flagship project of the Belt and Road Initiative (BRI). They praised China’s impressive technological advancements and robust economic growth, extending heartfelt congratulations to the Chinese leadership and the nation on the momentous occasion of the Diamond Jubilee and the 75th founding anniversary of China.

 

 

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