China's role in revitalisation of developing countries
Chinese Consul General in Karachi Yang Yundong. PHOTO: APP
China, as the world's largest developing country, plays a central role in driving the development and revitalisation of the "Global South" by providing unconditional support to other developing nations in five key areas, according to Yang Yundong, the Chinese Consul General in Karachi.
In a statement, the Chinese consul general emphasised that China always stands firm with the broad community of developing nations on the right side of history and on the side of human civilization and progress, working together to build a community with a shared future for mankind.
China is committed to empowering industrialization of developing countries, tackling their development challenges, and helping them achieve modernization, Yundong observed.
By supporting with capital, technology and cost-effective equipment, China helps developing countries promote the industrial transformation, be integrated into the global value chains and increase the added value of their products so as to form a positive development cycle.
By the end of 2023, China's direct investment in Belt and Road Initiative (BRI) partner countries exceeded $300 billion, improving connectivity and facilitating the flow of people, goods, and information, which has greatly enabled unimpeded development in those countries, Yundong noted.
China has continued deepening its cooperation with developing countries in areas like steel, automobiles, construction machinery, electronics and energy resources, effectively driving industrial upgradation of these countries.
In recent years, under the China-Pakistan Economic Corridor (CPEC) framework, many major projects such as transportation infrastructure, ports, airport and power plants have been completed and put into operation in Pakistan, significantly contributing to its economic prosperity and sustainable development, the Chinese consul general maintained.
China is committed to expanding the export channels for competitive products from developing countries to China, sharing the opportunities of country's large market to support them to export more products, Yundong maintained.