China assures Pakistan of continued economic support

Chinese President Xi Jinping on Wednesday assured Pakistan that Beijing would continue to support the South Asian country for sustainable economic development.

Xi also urged Pakistan to provide a safe environment for Chinese institutions and personnel working in the South Asian nation.

During a meeting with Pakistani Prime Minister Shehbaz Sharif at the Great Hall of the People in the capital Beijing, President Xi also announced an additional assistance package of RMB500 million ($68.6 million) for Pakistan's post-flood relief and rehabilitation efforts.

Pakistan has been facing political and economic turmoil after recent destructive rains and floods killed hundreds of people, and washed away hundreds of thousands of houses, bridges, roads, and buildings across the South Asian country.

"China would continue to extend its support to Pakistan for sustainable economic development and to harness its potential as the geo-economic hub," Xi was quoted in a statement issued from Prime Minister's Office in the capital Islamabad.

Sharif, along with a high-level delegation, arrived in Beijing on Tuesday on his first two-day official visit to China.

Sharif also congratulated Xi on his re-election as the secretary general of the 20th Central Committee of the Communist Party of China.

The two leaders reaffirmed their commitment to the all-weather strategic cooperative partnership between the two countries and said the two nations have stood firmly side by side, in realizing their shared vision of peace, stability, development, and prosperity.

Sharif also reaffirmed that the Pakistan-China friendship enjoyed complete consensus across the political spectrum in Pakistan and was a model of inter-state relations.

The two leaders discussed cooperation across a range of issues, including defense, trade and investment, agriculture, health, education, green energy, science and technology, and disaster preparedness, and reaffirmed their mutual commitment to China-Pakistan Economic Corridor (CPEC).

The CPEC is estimated to be over $50 billion bilateral investment cooperation arrangement between Islamabad and Beijing since 2014.

China has already invested approximately $28 billion in various energy and infrastructure projects in the South Asian country, allowing the world's second-largest economy to reach the warm waters of the Arabian Sea via Gwadar Port in southwestern Balochistan province.

They also agreed to launch the Main Line-1 (ML-1) and Karachi Circular Railway projects under the CPEC, according to the statement.

The Chinese Foreign Ministry said in a separate statement that Xi asserted that China will continue its "fundamental policy of opening up and providing new opportunities to Pakistan and the rest of the world through continuous development."

"China will further deepen synergy between its development strategies and those of Pakistan," he said, expressing "great concern" about the safety of Chinese institutions and nationals working on cooperation projects in the country.

Xi hoped Pakistan will "provide a reliable and safe environment" for Chinese citizens and institutions, the Chinese Foreign Ministry's statement added.

Referring to Gwadar Port which connects Beijing to the warm waters of the Arabian Sea, Xi said it was "important to accelerate" the construction of auxiliary infrastructure around the port "to unleash its role in driving interconnected development in the region."

"China will work with Pakistan to expand cooperation in the digital economy, e-commerce, photovoltaic and other new-energy technologies, and take solid steps to advance cooperation concerning agriculture, science, technology and people's livelihood," the Chinese president said, assuring Islamabad that Beijing will "continue to do its best to support Pakistan in stabilizing its financial situation."

"The world, our times and history are changing in ways like never before. Facing a highly uncertain world, both sides should stand on the right side of history, keep up their strong cooperation in multilateral mechanisms, and work closely on major international and regional issues so as to uphold true multilateralism, international fairness, and justice and shared interests of developing countries, and inject certainty and positives into the world," Xi said.

He added that China and Pakistan will work to advance the operationalization of the Global Development Initiative and the Global Security Initiative and to "make the global economic governance system more fair, equitable and inclusive that benefits all, and build a community with a shared future for mankind."

"These collaborative efforts will provide a strong underpinning for the development of the two countries, and contribute more to global peace, stability and prosperity," he said.

The latest data from Beijing shows that bilateral trade between China and Pakistan has risen to $27.82 billion last year.

It added that 75,000 jobs were created in Pakistan through the CPEC while Pakistan donated 300,000 masks and 6,800 pairs of gloves to support China's fight against COVID-19.

The two leaders also discussed the situation in Kashmir and Afghanistan and acknowledged that a peaceful and stable Afghanistan would promote regional security and economic development and agreed that the CPEC's extension to Afghanistan would strengthen regional connectivity initiatives.

Sharif also extended an invitation to President Xi to visit Pakistan, which he accepted.