China asks Pak to create enabling conditions for investors in CPEC projects

Media reports from Pakistan said Chinese investors were concerned over the slow pace of construction on the projects

Pakistan, China, CPEC, cpec
Photo: Shutterstock
Press Trust of India Beijing
3 min read Last Updated : Nov 17 2021 | 6:26 PM IST

China on Wednesday asked its all-weather ally Pakistan to create enabling conditions for thousands of Chinese nationals working on the USD 60 billion CPEC projects, apparently flagging concerns over security and the slow pace of construction.

The China-Pakistan Economic Corridor (CPEC) is the flagship project of China's ambitious multi-billion-dollar Belt and Road Initiative (BRI) and it links China's Xinjiang province with Pakistan's Gwadar port in Balochistan province.

Media reports from Pakistan said Chinese investors were concerned over the slow pace of construction on the projects. On Monday, Pakistani officials hosted a meeting of Pakistan-based Chinese companies and briefed them about further investment opportunities in the country.

Asked for his reaction, Chinese Foreign Ministry spokesman Zhao Lijian told a media briefing here: we hope the Pakistani side will provide more enabling conditions and convenience for Chinese companies doing business in Pakistan.

He did not elaborate further.

Zhao said: the development of CPEC enters the stage of high speed and quality development.

We believe we will better focus on agriculture, industrial development, people's livelihood, while ensuring the good operation of the existing projects in a way we will try to make it a demonstration project, Zhao said.

China has been asking Pakistan to ramp up the security of its thousands of workers currently working on various projects of the CPEC after a number of attacks on them in recent months.

In August this year, 13 people including nine Chinese personnel were killed and several injured in a bomb attack on a bus carrying Chinese engineers to the Dasu area of Upper Kohistan district where a Chinese company is building a 4,300-megawatt hydropower project on the Indus River.

China had rushed a special team amid confusing signals from Pakistan that it could be a gas blast. Pakistan later admitted it was a bomb blast, stating that traces of the explosive substance were found at the scene.

The CPEC is a collection of infrastructure and other projects under construction throughout Pakistan since 2013. Originally valued at USD 46 billion, the projects were worth USD 62 billion as of 2017.

India has protested to China over the CPEC as it is being laid through Pakistan-occupied Kashmir.

The BRI was launched by Chinese President Xi Jinping when he came to power in 2013. It aims to link Southeast Asia, Central Asia, the Gulf region, Africa and Europe with a network of land and sea routes.

The BRI is seen as an attempt by China to further its influence abroad with infrastructure projects funded by Chinese investments all over the world.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :CPEC projectsChinaPakistan

First Published: Nov 17 2021 | 6:22 PM IST

Next Story