China look forward to $1 billion investment in Pakistan's healthcare sector

China business delegation has expressed interest in investing $1 billion to establish a medical city in Pakistan during his meeting with President Asif Ali Zardari in Karachi, Dawn reported.

Pakistan considered China a trusted partner, with China supporting the country through numerous investments and development projects, like the China-Pakistan Economic Corridor (CPEC) project, termed a "lifeline" for Pakistan's economy.

According to a World Bank report, China is Pakistan's largest creditor, with nearly PKR 29 billion in loans. China had the single largest share of debt to Pakistan with a 22 per cent share.

On Thursday, President Zardari met with a delegation led by the Chinese Consul General Yang Yundong at Bilawal House in Karachi, where he called for greater Chinese investment in Pakistan's various sectors to strengthen bilateral trade, as per Dawn.

"The delegation expressed interest to invest $1bn to establish a medical city in Pakistan to advance the country's healthcare sector," Dawn reported citing PPP press release.

"The delegation also expressed interest to invest in diverse sectors of Pakistan's economy, especially agriculture, livestock, energy, transport, and manufacturing," it added.

Highlighting the close friendship between both nations, Zardari affirmed, "It was my vision to develop Gawadar Port into a regional trade and economic hub that would not only improve regional connectivity but would also boost regional trade and economic cooperation," he said.

According to Dawn, the meeting was also attended by many Pakistani officials, including Sindh Chief Minister Murad Ali Shah and provincial ministers Sharjeel Inam Memon and Nasir Hussain Shah and Nasir Hussain Shah, and Special Assistant to CM on Public-Private Partnership Qasim Naveed Qamar.

President Zardari warmly welcomed Chinese investments stating that Pakistan is committed to facilitating and supporting investors in every possible way.