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Chinese Vice Prime Minister He Lifeng is set to visit Pakistan on July 30 to join the 10th-anniversary celebrations of the China-Pakistan Economic Corridor (CPEC). The visit highlights the strong and cooperative relationship between China and Pakistan, with the CPEC being a flagship project under the Belt and Road Initiative.
As a key member of the Politburo of the Central Committee of the Communist Party and Chairman of the National Development and Reform Commission from 2017 to 2023, He Lifeng has been instrumental in the planning and execution of multiple CPEC projects in Pakistan, primarily focusing on energy and infrastructure.
During his visit, He Lifeng will have important meetings with President Arif Alvi and Prime Minister Shehbaz Sharif to discuss ways to deepen the ‘All-Weather Strategic Cooperative Partnership’ between the two countries. The visit is part of regular high-level exchanges and dialogue, highlighting the significance both China and Pakistan attach to furthering their economic and financial cooperation.
Over the past ten years, China has invested nearly $30 billion in Pakistan through various CPEC projects, contributing significantly to the country’s energy and infrastructure development. However, progress on the second phase of CPEC, which involves the establishment of special economic zones, faced challenges due to policy changes by the PTI government.
Nevertheless, CPEC has regained momentum since the change of government in April last year. China’s support has been pivotal for Pakistan during difficult times, as it helped the country avert a sovereign default by rolling over and refinancing loans, thereby stabilizing its foreign reserves.
The 10th anniversary of CPEC represents an opportunity for both China and Pakistan to reaffirm their commitment to enhancing economic and financial cooperation. The celebrations will focus on exploring new avenues for strengthening trade and investment ties, paving the way for a more prosperous and mutually beneficial partnership between the two nations.
As China’s Vice Premier He Lifeng arrives in Pakistan, excitement and anticipation build for the further deepening of economic ties and the advancement of the China-Pakistan Economic Corridor. 🇨🇳🤝🇵🇰 #CPEC #ChinaPakistanEconomicCorridor #EnhancedPartnership #BeltAndRoadInitiative #StrongerTogether
