China touts CPEC as ‘signature project’ in new era

Spokesperson says project has generated a large amount of direct investment

APP July 07, 2023
Over 37% of installed capacity of the CPEC power projects, or 1,980 megawatts, is out of order due to non-payment of dues to Chinese investors. PHOTO: FILE


With The China-Pakistan Economic Corridor (CPEC) at the centre, to two countries had established a cooperation framework with ports and transportation infrastructure, energy and industry, Beijing said on Thursday.

Chinese Foreign Ministry Spokesperson Wang Wenbin told a regular media briefing that CPEC) was a “signature project in cooperation” in the new era and “a pilot project of the Belt and Road Initiative (BRI)” launched by President Xi Jinping a decade ago.

The Chinese foreign ministry briefing came a day after Pakistan celebrated a decade of CPEC, with a cake-cutting ceremony in Islamabad, which was also attended by Prime Minister Shehbaz Sharif.

“This year marks 10th anniversary of CPEC, a signature project in China-Pakistan cooperation in the new era and a pilot project in the Belt and Road cooperation,” he said in response to a question from APP.

“The project has been flourishing and generated a large amount of direct investment, created many jobs and brought highways and power generation and transmission infrastructure to Pakistan and contributing to the country’s development and regional connectivity,” he added.

Wang said the two countries were also cooperating in agriculture, science, technology, information technology and social wellbeing. “Going forward, we will continue to work for the high-quality development of CPEC and contribute to China, Pakistan and regional development,” he added.

CPEC is a corridor, linking the Gwadar port in southwestern Pakistan with Kashgar in northwest China’s Xinjiang Uyghur Autonomous Region, which highlights energy, transport and industrial cooperation.


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