Chinese vice premier to visit Pakistan on July 30
According to a representative for the foreign ministry on Saturday, Chinese Vice Prime Minister He Lifeng will go to Pakistan on July 30 to take part in the CPEC’s 10th anniversary festivities.
The vice premier, who is a member of the Communist Party’s Politburo, will meet with both Prime Minister Shehbaz Sharif and President Arif Alvi during his stay.
Read more : China will reschedule Pakistan’s $2 billion debt
During his visit from July 30 to August 1, Lifeng will serve as the primary guest for a celebration of CPEC’s tenth anniversary.
The Belt and Road Initiative, of which CPEC is a flagship initiative, and China’s foreign economic ties have benefited greatly from the contributions of the vice prime minister. He played a key role in the development and implementation of several CPEC projects in Pakistan while serving as the Chairman of the National Development and Reform Commission (2017–2023).
“The visit is a part of Pakistan and China’s ongoing high-level talks and exchanges. It demonstrates the significance Pakistan and China place on advancing their “All-Weather Strategic Cooperative Partnership,” enhancing economic and financial ties, advancing the high-quality development of CPEC, and looking into new opportunities to deepen bilateral trade and investment relations.
In ten years, China invested close to $30 billion, primarily in infrastructure and energy projects. The PTI government’s decision to hold down the project meant that the second phase of CPEC, which called for special economic zones, could not proceed.
However, with the change of administration in April of last year, CPEC has attracted new interest.
At a critical point when Islamabad was on the edge of a sovereign default, China saved Pakistan.
Beijing extended and refinanced loans, assisting Islamabad in maintaining sufficient foreign reserves to prevent a default.
