China reiterates all out support for economic corridor

Mateen Haider Published July 11, 2015

ISLAMABAD: Chinese Ambassador Sun Weidong reiterated China’s support to the China-Pakistan Economic Corridor and said that the project will be completed at every cost.

A spokesman for the Chinese embassy in Islamabad said that the ambassador made these remarks during his visit to Multan on Saturday.

The ambassador extended China’s support in infrastructural development, capacity building and cooperation in construction and production related to the economic corridor project.

Ambassador Weidong was visiting power plants constructed by Chinese contractor in Multan. During his visit, he encouraged the Chinese companies to participate in the construction of power projects in Pakistan.

The Fatima 2x60MW Bagasse Power Plant constructed by Chinese contractor is applying advanced and environment-friendly technology, which will become a high-efficiency biomass power plant and will add electricity to the Pakistani grid once completed in 2016, it has been learnt.

The Chinese ambassador visited a Chinese cotton ginning company and Multan cotton research station. The Chinese Company aims to build a cotton industrial chain in Multan.

The ambassador also stressed on the need to carry out cultural and people-to-people exchanges and said that the Chinese side will provide government-sponsored scholarship for students of Multan, allowing them to study in China.

The Chinese envoy also visited the cultural and historical sites in Multan during his tour.

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Zombie

Jul 11, 2015 07:16pm

I hope it happens but Chinese companies are wary of investing in unsafe places specially after 3.9 trillion U.S. Dollars (Bloomberg) has been wiped off China's economy in the past 3 weeks...

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Jul 11, 2015 07:18pm

So that would mean what? That Chinese government will not invest in CPEC? or they would just encourage private Chinese companies to invest in CPEC? Seems some confusion here. Anyone enlighten me here please.

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Shahid H Siddiqui

Jul 11, 2015 07:19pm

China is a friend indeed, we should also learn to take care of that friendship.

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Satt

Jul 11, 2015 07:22pm

Chinese reiteration is necessary very necessary in regular intervals to keep the Pakistan's confidence up on CPEC.But Chinese are playing nice,they are controlling a country just on a promise.

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Ahmed

Jul 11, 2015 07:27pm

Dear China, Please take care of Muslims. If not, I don't think I can feel proud to have an all weather friend like China. I would prefer India over China because despite the riots and some discrimination, Muslims are able to practice and propagate there religion and there is no oppression (relatively).I feel we should stand as a nation to defend Chinese Muslims as the relation between Pakistan and China is 'friendship' and not 'puppet-king' relation.

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Khalid

Jul 11, 2015 07:29pm

China's investment in Pakistan is a welcome move. I am however, not sure if we, the Pakistani nation, recognises that religion means nothing when it comes to friendship. If that is the case, our best friends can ONLY be the Indians. Same culture, same traditions, same language. How can the bond between China and Pakistan be greater than the bond we have with India?. Why do we have to wear our religion on our sleeve?. What has it given to us in the last 67 years?. Do you think I ask for the religion of the doctor I want to see?. I am only interested in the most qualified and most experienced doctor. It is that simple. Isn't it?.

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ali

Jul 11, 2015 07:32pm

China-Pakistan Economic Corridor is a gift to our future generations. Also, another gift is Shanghai Cooperation Organisation. It's the NATO of Asia. God bless Pakistan and China.

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usman

Jul 11, 2015 07:42pm

@KM I don't know what's mess with you ppl. It's western route almost constructed that includes KKH also. Don't believe me see at skyscraper city mehfil Pakistan transportation section threads KKH and CPEC.

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Zahid.USA

Jul 11, 2015 08:06pm

@KM Don't be so euphoric KM. He said that he would encourage Chinese companies to invest in energy sector which is different from the CPEC. You may want to read the article again. "CPEC will be completed at any cost" ?

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Abbas Ali

Jul 11, 2015 08:12pm

@Shahid H Siddiqui interest. Friendship doesn't not mean anything.

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lafanga

Jul 11, 2015 08:16pm

@Khalid Wrong, Even Brothers, same blood , same mother can be enemies, a stranger can be best friend, same here, Indians same blood but enemies, Chinese not at all related but best friends and we can trust them more than our siblings.

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Harmony-1

Jul 11, 2015 08:25pm

Modi complains to Xi about CPEC for no good reason and now the Chinese say this to counter it.

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John

Jul 11, 2015 08:39pm

@Ahmed Welcome to reality. China - where every thing appears to be big and dramatic, hides many ills. On top of it they have been Pakistan's friends for a long time The human rights record of China is dismal. In terms of economic issues they have one crisis after another crisis looming. The stock market crisis is not over as yet as most of the money in the market is based on easily available margin accounts. The real-estate is in similar issues dues to easy availability of credit. Let's see the house of cards lasts how long? And for those looking fro CPEC to be an investment for future generations may find that it may turn out to be a another highway in Pakistan.

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khalid

Jul 11, 2015 08:42pm

I think Pakistan should carefully invetsigate the proposed CPEC because Chinese are known to serve only their own interests. If we fail we might and our futue generations might end up in a burden of debt which may never be able to overcome. China is investing for its own sake because Chinese economy is slowing down and Pakistan presents a growth opportunity for Chinese firms. Else what are they going to do- rip up the roads and build again? Our ladership should think long term and not only short term feel good approach. There are quyalified financial and economic analysts in Pakistan who can advise us on this. In past also we have ended u paying up to 10 times the nominal cost of energy to Chinese firms because of poor due diligence. But this one is too big a challenge. lets analyse and then celebrate.

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Dipak Singh

Jul 11, 2015 08:57pm

India trust on China in 1953 Mr. Nehru said Hindi chini BHAI bahi & given ref. For United Nation membership instead of India's name.. Then after 10 years they attacked on India... Be careful Pakistan.

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Iqbal

Jul 11, 2015 09:06pm

Stop this hype and let us see what happens in next 5 years. I will prefer individual companies over China as in India. $20 billion fund created by Softbank, Foxconn to invest in solar parks in India.

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Ramesh

Jul 11, 2015 09:06pm

in few years China economy will be collapsed or slowdown they can't afford that, but i think politician can't use their mind on it, to counter to India they doing everything without thinking.

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Anwar Amjad

Jul 11, 2015 09:16pm

@Ahmed We have nothing to do with the internal affairs of China. China is the most trusted friend of Pakistan and now we have to be extra careful in maintaining that relationship as enemies of Pakistan will try to create differences to sabotage the China- Pakistan Economic Corridor project. Our Chinese friends are fully aware of it.

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Jul 11, 2015 09:36pm

The world economy is gearing up for a huge recession. Chinese economy is nearing implosion point. SEA is going to get affected due to it. Really fail to understand how they can promise and 're-iterate' their commitment.

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bryan

Jul 11, 2015 09:41pm

@Harmony-1 I think the average Indian is not worried about CPEC. I have an observation from life and relationships. Sometimes the person we despise the most comes to our help when we need it the most. The big bang friend will not lend when we need it the most. Keep the. China friendship but Pakistan's and India's long term peace and development will come only in accepting each other and making some adjustments. China at its very core is communist deep inside. Pakistan and China are like chalk and cheese bonded together due to India. China has got a fantastic needle against India in Pakistan. If u give so much trust and freedom to china it would love to have a military dictatorship in Pak. Have the relationship but balance both

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Harmony-1

Jul 11, 2015 10:08pm

@bryan - In my many comments, I always wish for India and Pakistan to have good relations with each other not to work against each other.

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Jul 11, 2015 10:09pm

@Zahid.USA "The ambassador extended China’s support in infrastructural development, capacity building and cooperation in construction and production related to the economic corridor project. Now what to understand from this sentence? Means china will not invest directly, it will "support". Support who?

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KrishnaKumar

Jul 11, 2015 10:33pm

Please first build the corridor as soon as possible

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blogger

Jul 11, 2015 10:33pm

China wants a 18% return on its companies investment in dollars,local workers and companies might not get much benefit But then Pakistan has to take what is offered

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Jul 11, 2015 10:40pm

how power provided for this program...??

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BABA DE KAMAQLANO

Jul 11, 2015 10:40pm

Long live China-Pakistan friendship.

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Jul 11, 2015 10:46pm

@Anwar Amjad ha ha china using pak indirectly too increase their economies...!! not to develop pak economy

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Cyrus

Jul 11, 2015 10:59pm

@KM ... The Chinese have a standard 20 year lease on the signing of contracts. Doing business with China is not stealing sweets from a baby. Take what you can get. They are not lending money to put Pakistanis to work.

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Cyrus

Jul 11, 2015 11:07pm

@Zombie ... The Chinese people fell into the same stock market trap as the American people did in 1929. The Public jumped into the stocks buying swimming pool believing the market only goes up and the sky is the limit. Then they got skinned by the professional stock traders. Those who borrowed more money to invest in more stocks destroyed themselves. Small equity and bond traders did as well. Welcome to capitalism!

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Cyrus

Jul 11, 2015 11:13pm

@Satt ... The Chinese are not stupid. They have not seen any cash yet. If Pakistan put as much money into escrow on the project as they owe the World Bank and IMF the result would be very different. At this point Pakistan can be extended very little credit even on Chinese investment.

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sohail

Jul 11, 2015 11:35pm

Things have started happening on ground.The future of CPEC is very bright.Long live Pak China Friendship.

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Cyrus

Jul 11, 2015 11:51pm

@Ramesh ... The Chinese economy will never collapse but it is experiencing a slow down that economists cannot predict the length of. The stock market probably represents only 5% of GNP in China. The same slowdown has effected the viability of corporate earnings and growth. In their rush to get rich the Chinese people paid no attention the price earning ratios of stocks which was the computer trigger for institutional investors to sell off their stocks as close to the top as they could, leaving small investors holding stocks with very diminished values.

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Cyrus

Jul 12, 2015 12:04am

@bryan .... China at it's core is not communist deep inside. Just the opposite. Hundreds of Chinese millionaires have recently moved to Hawaii, California and New York City. Including women millionaires. They made their money in China and now they want their freedom, and send their children to US universities. If you told Chinese school girls they were communists deep inside, you would leave them giggling behind their hands on the English Corner. Only about 5% of all Chinese belong to the communist party. They rest are independent voters without any other party to vote for.

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noshin

Jul 12, 2015 12:12am

Take a look of China-Pak. relations and then examine American interests in Pakistan! This will help you in identifying the difference between a friend and a foe...

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Muhammad Ahmad Aziz

Jul 12, 2015 12:38am

@KM The Chinese Govt. was always going to use its companies to invest and build the CPEC. The Chinse Govt. doesn't know how to build roads or powerplants. It will just facilitate the companies by making it easier for them to acquire finance and capital etc.

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Yas Mohammed

Jul 12, 2015 12:53am

@Dipak Singh you are correct

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Zak

Jul 12, 2015 01:18am

@Dipak Singh we love China and never need to be careful of them.

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Woz Ahmed

Jul 12, 2015 01:36am

@Ramesh China has broken all the rules when it comes to economic growth, 30 plus years of an average of 10% growth. Yes the stock market has risen by 150% in the last year and now fallen 30% , it does sound like a bubble economy, it will adjust, hurt, but adjust. Cheap minerals and resources from Africa and Pakistan/Afghanistan will power it along.

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Sense

Jul 12, 2015 01:38am

@Zombie BTW it's still up 7 trillion for the year zombie

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Fairplay

Jul 12, 2015 03:58am

We should not ignore Uighur concerns

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Syed Ganga Din

Jul 12, 2015 06:01am

Chinese economy is dependent upon assembling parts invented by foreign (mostly US) companies and is based on cheap labor market. It can evaporate in a heart beat because it doesn't have any home grown solid foundation. What have Chinese invented other than Green Tea, Chop Sticks and Fortune cookies? Every Chinese technology is an outdated stolen piece from other countries.

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Zeng

Jul 12, 2015 06:05am

@Ramesh , collapsing Chinese economy? What a baloney. The West will give it's limb for a 2% growth. China will continue to grow at 6-7 % in the foreseeable future. The gloom and doom is in the West right now.

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Zeng

Jul 12, 2015 06:14am

@KM , The drop in 30% of the Chinese stock market is natural nothing unusual. The Chinese stock market has picked up the growth of 150% in less than a year. Minus 30 with 150 it is still a big chunk left in the growth profit. there is no permanent growth or decline in stock market, up and down is the natural order. The Chinese and Pakistan project is already off the ground according to the Chinese news broadcast.

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Zeng

Jul 12, 2015 06:42am

@Khalid - If you mix religion with politics and economic than Pakistan will never be able to progress in manner accords to its full potential.

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Zaida Parvez

Jul 12, 2015 06:56am

This is mostly sound bytes. The so-called economic corridor is not a physical corridor that you can build and prosperity starts to flow in. Given so much turmoil and infrastructure issues, this will be a dream at best. The Chinese are a lot cannier than Pakistan gives them credit for. They will keep talking about it for a long time before they start to show the color of their money.

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bryan

Jul 12, 2015 07:18am

Harmony-1 hi thank u for responding. I ve been with Pakistanis in Dubai and Muscat. Of late I'm wondering how can we get people to interact with each other. Dawn or Times group should have a chat server. There should be regular and large scale exchange of school students not in hundreds but in thousands. Also not from just schools of Delhi which is a culture and people similar to Pakistan but from far off places in India. When we are unwell admitting in a hospital is not enough. Love, care and good home food cures faster than doctors and nurses. Likewise Indo Pak relation cannot be just left to governments alone. Yes Pakistan is even lesser than the size of Uttar Pradesh but there is considerable interest in India. Today I read about Karachi power outages. Gujarat is the closest Indian state to Karachi with surplus power. The power of positive thinking and citizens effort can create wonders only if we can dare to dream big.

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MAlvi

Jul 12, 2015 07:24am

It seems that Chinese are more interested in doing some thing in Pakistan, than the Pakistani so-called leaders. Do we need such leaders? Why don't we get rid of the burden of these leaders and move on the progress path?

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Zeng

Jul 12, 2015 07:27am

@Zombie - Don't worry. The stock market has it's own natural ebb and flow. Always a up-down, up-down. what counts is the brick and mortar economy on the ground and from what I know it\s still humming normally.

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dipak

Jul 12, 2015 07:28am

the worlds only largest democracy stable since independence can help any country as hindustanis are born soft nature.minorities are fully enjoying their rights and any issue are solving through court. is there ? ask any minorities how happy they are here.indians are all over the world and they have mixed in the world community, from arab countries to european and african too. good relations with india can prosperous the country.no need to go any where, come join hands with india as all neighbouring countries have done and solved their power crisis. india is a global power that world has noted. it is upto the country if development is need. we are proud of minorities who decided to stay with majority hindus and also for their contribution in dev our country. forget negativity and be our friend. wel come in india and enjoy freedom of democracy.

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Zeng

Jul 12, 2015 07:41am

@John - Spreading lies again. Chinese stock market is not wall-street, the club of the greedy and inscrutable gangs of market manipulators. Margin calls trading are not allowed in China. You can only trade the amount what you have in the account.

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Zeng

Jul 12, 2015 08:08am

@Satt -Controlling a country? You are not confusing US with China are you?

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Zeng

Jul 12, 2015 08:15am

@khalid - Business can only take place only when both sides benefits. Pakistan must see what it can learn from China's development so fast unprecedented in human history. It didn't happen just like that by itself. Borrow a page from China and adjust to suit Pakistan.

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Jul 12, 2015 08:21am

@Cyrus did you know what is the meaning of slowing economy...??? if china is really a brother of pakistan...!! china having ample of power why they are not selling power to pakistan directly...!! why they want to having solar power with 100 mw that to having high cost when compared to others...!! be real think correctly..!!! chinese markets are started to fall because of their arrogant and unified decisions...!!

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Jul 12, 2015 04:39pm

@Khalid well said...!! i totally agree with you dr...!!!

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boobie

Jul 12, 2015 05:45pm

@Khalid . have you forgotten what india has done and is continuing to do in Pakistan? They unfortunately can never be and will never be a friend untill the time comes that they recognize our right to exist and accept us as a sovereign nation!!

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