Chinese consortium buys 40% of Pakistan's stock exchange
A Chinese consortium has acquired 40% of Pakistan's stock exchange for $85m, marking possibly the first in a series of "paybacks" Pakistan is being asked for in return for Chinese investment in the country. The consortium comprises three Chinese stock exchanges, China Financial Futures Exchange, the Shanghai Stock Exchange and the Shenzhen Stock Exchange, which have taken up 30% of the shares, along with Pak-China Investment and Habib Bank, which have taken 5% each. This move marks the first time that Chinese companies have acquired shares of a foreign stock exchange.
A Washington-based news report had said two days ago that China has secretly signed the deal to construct a new power plant at Chashma.