Pakistan and China advance ties with CPEC 2.0 deals worth $8.5 billion, marking a new chapter in their economic partnership. At the Second Pakistan-China B2B Investment Conference in Beijing, both sides signed 21 MoUs and joint ventures spanning agriculture, IT, AI, electric vehicles, solar energy, minerals, petrochemicals, health, and steel.
Shehbaz Launches CPEC 2.0
Prime Minister Shehbaz Sharif formally announced the launch of CPEC 2.0, describing it as a “long march of economic growth.” He said the new phase would generate jobs, attract foreign investment, and increase Pakistan’s exports. The focus will remain on business-to-business cooperation, with Special Economic Zones (SEZs) serving as the backbone due to Pakistan’s cheap skilled labour and strategic location.
Investor Confidence and Commitments
Shehbaz assured investors of swift facilitation and promised to streamline the process. “We will not tolerate even a second’s delay. Chinese investors will be treated as partners. Pakistan is your second home, just as China is ours,” he declared. He also stressed that the safety of Chinese nationals in Pakistan is the government’s top priority.
Achievements of First CPEC Phase
Highlighting the past, Shehbaz credited the first phase of CPEC with ending 20-hour power outages, reviving industries, and modernising infrastructure. He praised China’s rise under President Xi Jinping, noting how it has lifted over 700 million people out of poverty and become the world’s second-largest economy — a model that Pakistan hopes to follow.
Expanding CPEC Through New Corridors
In his meeting with Chinese Premier Li Qiang, both leaders reaffirmed their commitment to expand CPEC 2.0 through five new corridors. They agreed to strengthen cooperation in IT, science and technology, agriculture, textiles, minerals, trade, and industry. Pakistan also expressed its plan to launch Panda Bonds in the Chinese capital market to attract investment.
Long-Term Action Plan
The conference and meetings also witnessed the signing of a Joint Action Plan 2024–2029, designed to enhance trade, defence, and security cooperation. Deputy Prime Minister Ishaq Dar, Ambassador Khalil Hashmi, federal ministers, Chinese officials, and top business leaders attended the event.
Optimism for the Future
Concluding his address, PM Shehbaz said: “We know the path is difficult but not impossible. With China’s support and our commitment, we will make Pakistan a strong and vibrant economy. Let today mark the beginning of that journey.”
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