China rejects reports it will gradually cut CPEC financial support

The prospects of the China-Pakistan Economic Corridor (CPEC) are bright as both China and Pakistan are resolute in pushing forward its construction, Chinese Foreign Ministry Spokesperson Zhao Lijian said on Monday.

He made the remarks at his regular briefing when asked to comment on a report that China would gradually end its financial support of Pakistan pledged under CPEC.

“Such reports are groundless,” Zhao said, adding as an important pilot project of the Belt and Road Initiative (BRI), CPEC had maintained positive development momentum since 2013.

He remarked that after COVID-19 broke out, the projects under the corridor showed no withdrawal of staff, and there was no jobs cut and no halt in construction.

Zhao Lijian said the batch of major projects were completed, handed over or became operational, offering strong support to Pakistan in its fight against COVID-19 and economic recovery. “My colleagues have talked about this as well.”

He said last Friday, the CPEC International Coordination Cooperation Working Group’s second meeting was held in Xinjiang.

During the meeting, “the two sides reiterated their consensus to implement our leaders’ agreement and make sure the corridor will focus more on the industry, agriculture, science and technology and livelihood besides focusing more on the underdeveloped region. So, it will become a high-quality demonstration project under the BRI.”

He said that other working group meetings would be held to prepare for the joint cooperation working meeting.