According to Saturday’s statement from the Chinese foreign ministry, Vice Premier He Lifeng will travel to Pakistan on July 30 to participate in the CPEC’s 10th-anniversary celebrations.
During his stay, the Vice Premier, who is also a member of the Central Committee of the Communist Party, will meet with President Arif Alvi and Prime Minister Shehbaz Sharif.
The spokesperson further mentioned that during his visit from July 30th to August 1st, Lifeng will be the featured guest at an event commemorating CPEC’s first decade in operation.
China’s foreign economic connections and the implementation of the Belt and Road Initiative, of which CPEC is a flagship project, have benefited greatly from the vice prime minister’s leadership. Multiple CPEC projects in Pakistan would not have been possible without his leadership as Chairman of the National Development and Reform Commission (2017-23).
Learn more about the vital role CPEC plays in economic and social progress.
This trip is a continuation of frequent talks and interactions between top Pakistani and Chinese officials. It demonstrates the value both countries place on expanding their ‘All-Weather Strategic Cooperative Partnership,’ improving their financial ties, pushing for CPEC’s high-quality development, and looking into new ways to boost trade and investment.
China spent about $30 billion on energy and infrastructure over a decade. The PTI government’s policy of slowing down the project was the primary reason why the second phase of CPEC, which envisioned special economic zones, could not proceed.
Since the new government took office in April of last year, however, CPEC has received fresh attention.
See also: CPEC drew $25.4 billion over a 10-year period: Beijing
When Islamabad was on the edge of a sovereign default, China stepped in to save Pakistan.
The loans that Islamabad had to keep its foreign reserves at a level to avoid a default were rolled over and refinanced by Beijing.
