Pakistan and China on Thursday reaffirmed their unwavering commitment to deepening bilateral relations by advancing the upgraded China-Pakistan Economic Corridor (CPEC 2.0), a new phase of cooperation featuring five additional corridors aimed at boosting regional connectivity and development.
The understanding was reached during a high-level meeting between Prime Minister Shehbaz Sharif and Chinese Premier Li Qiang in Beijing. Both leaders expressed satisfaction with the progress of their “iron-clad” strategic partnership and pledged to move forward with renewed vigor under CPEC 2.0 cooperation.
Prime Minister Shehbaz is currently in China on a six-day official visit, which began in Tianjin on August 30, where he attended the Shanghai Cooperation Organisation (SCO) summit. Today’s meeting was marked by warmth and mutual trust, highlighting the depth of Pakistan-China friendship.
The two sides also witnessed the signing of multiple memorandums of understanding (MoUs) covering cooperation in CPEC 2.0, science and technology, information technology, agriculture, and media. A luncheon hosted by Premier Li further underscored the cordial atmosphere.
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During the talks, Shehbaz praised China’s unwavering support for Pakistan’s sovereignty and socio-economic development. He also lauded China’s remarkable transformation under President Xi Jinping’s leadership, stating that Pakistan seeks to learn from China’s successes and build a stronger community with a shared future.
Building on the consensus reached in his earlier meeting with President Xi, Shehbaz reaffirmed Pakistan’s resolve to expand CPEC 2.0 cooperation, particularly in areas such as infrastructure, Gwadar Port, ML-I railway upgrades, and the realignment of the Karakoram Highway.
On the economic front, the prime minister announced Pakistan’s plan to float Panda Bonds in the Chinese capital market soon. He also emphasized the vast potential for B2B collaborations, highlighting agriculture, textiles, mining, IT, and the industrial sector as priority areas.
Earlier in the day, Shehbaz attended a B2B Investment Conference where more than 300 Pakistani and 500 Chinese companies explored opportunities for joint ventures. He urged investors to take advantage of Pakistan’s ongoing reforms, which are already producing promising results.
Reiterating Pakistan’s backing for President Xi’s global initiatives—including the Global Development Initiative, Global Security Initiative, and Global Civilization Initiative—the premier stressed the importance of multilateralism in shaping a peaceful and prosperous world.
