Published On: Tue, Oct 9th, 2018

China Welcomes #Saudi Plans to Invest in #CPEC Project With #Pakistan – #Chinese President #Xi has pushed the #BRI as a means of increasing international trade and goodwill through massive infrastructure spending.

China has praised investments Saudi Arabia intends to contribute to Chinese-funded massive infrastructure projects under construction in Pakistan, dispelling skepticism Islamabad was risking Beijing’s outrage by inviting a third party to a strictly bilateral deal.

The ongoing massive project, known as the China-Pakistan Economic Corridor (CPEC), is the flagship enterprise of President Xi Jinping’s global Belt and Road Initiative (BRI).

“Not at all,” said Lijian Zhao, the deputy chief of the Chinese embassy in Islamabad, when asked by VOA whether his country was upset with possible Saudi financing in CPEC projects.

In a detailed interview, the senior Chinese diplomat asserted that Beijing itself has been encouraging Islamabad to engage in investments in CPEC from other countries.

CPEC is estimated to bring $62 billion in Chinese investments to Pakistan over the next 15 years for building transportation networks, special economic zones and power plants to help Islamabad improve its manufacturing capacity and overcome energy shortages.

Read more: China Welcomes Saudi Plans to Invest in CPEC Project With Pakistan

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