China on Friday denied reports that its ambitious USD 50 billion economic corridor (CPEC) in Pakistan as well as the Belt and Road Initiative (BRI) projects in a host of other countries were bogged down with problems.
Questioning the veracity of the media reports from many countries including Pakistan, Chinese Foreign Ministry spokesperson HuaChunying said the projects are going on smoothly.
“I wonder how you arrive at this conclusion and what basis and evidence do you have,” Hua replied when asked about media reports that BRI projects were bogged down with problems in Pakistan, Uzbekistan, Kazakhstan, Indonesia, Thailand, Laos and Singapore.
President Xi Jinping’s ambitious project ‘BRI’, which includes China-Pakistan Economic Corridor (CPEC), has been included in the Constitution of the ruling Communist Party ofChina in the just concluded once-in-a-five-year Congress.
According to officials, the Chinese firms so far have invested USD 560 billion overseas under the BRI since 2013 and paid over USD 100 billion in taxes and created millions of jobs.
In Pakistan alone, China is reported to have committed to invest over USD 50 billion and some estimates even put the amount at more than USD 60 billion in the CPEC, connecting China’s Xinjiang province with Pakistan’s Gwadar port.—TNS