China links CPEC’s success with political stability in Pakistan

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BEIJING: Chinese financial experts while addressing a media seminar on Belt and Road Initiative (BRI) organized here by the People’s Daily underlined the importance of political and social stability in Pakistan for the success of China-Pakistan Economic Corridor (CPEC).

Speaking high about the significance of CPEC in the overall context of BRI, they said it will work as shinning example to show the World that BRI is meant to develop cooperative partnership world over to improve the livelihood of the people.

The seminar was being attended by the journalists from South Asian countries including Pakistan. The speakers included Zhang Yansheng, a senior research follow of China’s National Development and Reform Commission, Dr. Sun Guofeng Director General, the Research Institute of People’s Bank of China, the country’s top banker Dr. Cao Yuanzheng and Dr. Xu Hongcai, Deputy Chief economist.

They termed the CPEC is an exemplary cooperative partnership at state-to-state level, that is to work as a guiding-line for other countries, along the silk road to follow for their socio-economic uplift. The CPEC, they added as a great plan that brings the sino-pak friendship to a new height. Gwadar seaport provides basis for connectivity mechanism with the region and the rest of the World.

While referring to President’s Xi Jinping’s speeches and remarks on BRI, they said the initiative’s essence is to optimize demand and supply structure to ultimately rebalance the world economy.

Dr. Xu Hongcai said, there is standing guideline and advice by the Chinese government to the local companies to make maximum investment in Pakistan under CPEC and BRI.

He said that Industrial and Commercial bank of china has co-initiated the Belt and Road banking cooperation and communication mechanism with major banks in Pakistan.

China is constantly working to promote commercial banks in BRI member countries to build a service network.

The implementation of the BRI involves numerous services, including agent banks, syndicated loans, settlements and liquidation and project loans, he added.