Pakistan is poised to approve an application by Industrial and Commercial Bank of China to start operating in the country, a move that Islamabad hopes will herald closer commercial ties with Beijing.
Pakistani officials see a visit by Wen Jiabao, the Chinese premier, this month as a chance to strengthen a long-standing alliance at a time when Islamabad’s relations with the US are under strain.
Shahid Kardar, Pakistan’s central bank governor, said he would grant ICBC, China’s biggest bank, a licence to open a branch in Pakistan ahead of Mr Wen’s arrival on December 17.
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