Interconnection

China-Pakistan Economic Corridor shows the vitality of the Belt and Road

Seetao 2022-09-27 10:06
  • China-Pakistan Economic Corridor is a landmark project of the Belt and Road Initiative
  • The China-Pakistan Economic Corridor is an economic cooperation project that comprehensively uses various modes such as investment and financing, government loans, and free assistance
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It is reported that Pakistan's economic lifeline, the China-Pakistan Economic Corridor, is currently developing strongly. According to a report, more than 20 projects have been largely completed. Another 63 projects are also expected to be nearing completion by 2030. This is a hopeful statement that highlights China and Pakistan’s ongoing commitment to making the China-Pakistan Economic Corridor a reality, which will also facilitate Pakistan’s connectivity with Afghanistan, Central Asia and Russia. It is hoped that this plan will bring many dividends to Pakistan and the whole region. China's vision to invest in Pakistan's infrastructure, energy and production is to be applauded.

The Karot Hydropower Station in Pakistan is the first hydropower investment project in the China-Pakistan Economic Corridor mainly invested and developed by China Three Gorges Corporation

The China-Pakistan Economic Corridor is not only a landmark project and a pilot project of the Belt and Road Initiative, but also an important part of enriching the China-Pakistan all-weather strategic cooperative partnership and building a closer China-Pakistan community of shared future in the new era. In 2013, the construction of the China-Pakistan Economic Corridor started. In 2015, China-Pakistan relations were upgraded to an all-weather strategic cooperative partnership, and the construction of the China-Pakistan Economic Corridor entered the "fast lane", forming a construction centered on the corridor and focusing on Gwadar port, energy, infrastructure construction, and industrial cooperation. The "1+4" cooperation layout.

Since its inception, the China-Pakistan Economic Corridor has played an important role in Pakistan's economic growth and improvement of people's livelihood. Economically, since the launch of the China-Pakistan Economic Corridor, it has brought a total of 25.4 billion US dollars of investment to Pakistan. According to data from the National Bureau of Statistics of Pakistan, during the fiscal year from 2013 to 2018, the real GDP growth rate of Pakistan increased from 4.05% to 6.10% year by year, showing a strong momentum. , the huge investment in the field of transportation infrastructure is closely related. In particular, a series of power generation and transmission projects have greatly improved Pakistan's power shortage situation, and Pakistan's total installed power generation capacity has basically met domestic demand. At the same time, the second phase of the Karakoram Highway Upgrade and Reconstruction Project and the Peshawar-Karachi Expressway Project have improved the traffic capacity of the "arterial roads" between China and Pakistan and within Pakistan. These projects have changed the constraints on Pakistan's economic growth, which are the two major shortcomings of energy and transportation.

In terms of people's livelihood, the construction of the China-Pakistan Economic Corridor has created more than 70,000 jobs for Pakistan, and will directly or indirectly create 500,000 jobs in the next five to seven years. A series of livelihood projects such as the China-Pakistan Fraternity Medical Emergency Center, Gwadar Seawater Desalination Plant, Faqer Middle School, and Gwadar Vocational and Technical School have been implemented, which have effectively benefited the local area in terms of water use, medical care, education and employment skills training. After the outbreak of the novel coronavirus pneumonia, the China-Pakistan Economic Corridor project "will not withdraw Chinese personnel, lay off Pakistani employees, and continue project construction", and actively provide Pakistan with anti-epidemic support such as epidemic prevention materials, medical supplies, expert assistance, and new crown vaccines. Boost Pakistan's economic recovery after the epidemic.

In recent years, the construction of the China-Pakistan Economic Corridor has entered a new stage of high-quality development focusing on production capacity cooperation, agriculture, social and people's livelihood and other fields based on the achievements made in the field of infrastructure construction. The construction of Gwadar Port is making continuous progress, the port has full operational capacity and has started commercial operation, the port free zone has attracted investment and settled, and is making solid progress towards the strategic goal of a logistics hub and industrial base; The special economic zone has entered the construction stage, which will provide impetus for the next stage of industrialization development in Pakistan.

The continuous progress of the construction of the China-Pakistan Economic Corridor is a manifestation of China's promotion of the Belt and Road Initiative, which is in line with Pakistan's economic development concept and Pakistan's strategic orientation. China upholds the concept of "amity, sincerity, mutual benefit and inclusiveness" in its neighboring diplomacy, advocates good-neighborliness and friendship, and regards seeking common development and safeguarding common security as the strategic goal of its relations with Pakistan. It is also the consensus of all walks of life in Pakistan to help Pakistan's social and economic development through the construction of the China-Pakistan Economic Corridor and China-Pakistan pragmatic cooperation. Keywords: One Belt One Road, One Belt One Road Project, One Belt One Road News

The construction results of the China-Pakistan Economic Corridor prove that the China-Pakistan Economic Corridor has no political intentions and is not a geostrategic tool. The China-Pakistan Economic Corridor does not export ideologies or models. China has always supported Pakistan in formulating and implementing policies according to its own national conditions, and supported Pakistan in taking a development path that suits its own national conditions. The China-Pakistan Economic Corridor is an economic cooperation project that uses various modes of investment and financing, government loans, and free assistance. It does not set political conditions such as a structural reform agenda or financial constraints in Pakistan, but follows the principle of extensive consultation, joint contribution and shared benefits. , and carry out cooperation under the existing social and economic conditions of Pakistan. The China-Pakistan Economic Corridor is an objective requirement for the in-depth development of bilateral relations from the political and defense fields to the economic field. The Belt and Road Initiative has injected vitality into the development and prosperity of countries along the route and regional connectivity, and has been recognized and participated by more and more countries. Editor /Zhao E