ISLAMABAD – President Mamnoon Hussain has inaugurated operations of Bank of China in Pakistan with the hope that it will improve the country’s economic growth and infrastructure development.

The president was speaking on an official opening ceremony of the bank in Islamabad on Tuesday. He said Pakistan’s business-friendly environment attracted huge foreign investment. He also assured the full support of the government and State Bank of Pakistan for the bank.

Mamnoon said that China-Pakistan Economic Corridor (CPEC) would soon start producing benefits, adding that the project will give a new dimension to the bilateral relation.

He also hailed China’s participation in development and prosperity of the country as a major investor and strategic partner.

Acting Ambassador of China to Pakistan Zhao Lijian also expressed his view on the occasion and said that both Pakistan and China have achieved significant triumphs in the economic sector.

Opening of the bank reflects confidence of Chinese investors in the economic development of Pakistan, he said.

Chairman of Bank of China Siqing Chen said Karachi branch of the bank is the first in South Asia which reflects the importance China gives to Pakistan.