CPEC project gets support of Chinese Parliament

March 14, 2016

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China-Pakistan Economic Corridor and one road and one belt initiatives enjoy complete support of the National People’s Congress (NPC).

Legislators while attending the on-going session of NPC threw their weight in favour of these game-changers initiatives that will have very positive impact on cementing China’s economic ties with Pakistan and other regional countries. Pakistan is initial beneficiary of such projects.

According to a report published in Shanghai Daily on Monday, smooth implementation of the China-Pakistan Economic Corridor is likely to add over 25,000 megawatts electricity to Pakistan’s power generation capacity.

Pakistan, a central Asian country along the ancient trade route, has long suffered from power shortage. During summer time, even its capital city Islamabad is subjected to power blackout up to 12 hours a day. It is hoped that CPEC will have major contribution in overcoming this shortage.

The 12th NPC, the country’s top legislature, and the fourth session of the 12th National Committee of the Chinese People’s Political Consultative Conference (CPPCC), China’s top political advisory body see ratification of China’s draft 13th Five-Year Plan, with discussions focused on China’s further economic restructuring as a key part. The CPEC is part of the plan that will set the China’s world connectivity plan in motion.

The report says, China vowed to prioritise a higher-level of opening up engagement to the world as part of its diplomatic agenda in the next few years, which are also hot topic in the Two Houses of the Chinese Parliament.

The Public representatives will discuss the further implementation of such grand programs,, so as to better share the fruit of China’s decades-long economic development with other countries, especially the developing ones.

The Belt and Road Initiative, with its name stemming from the world-known Silk Road that once connected Asia, Europe and Africa in ancient times, is aimed at enhancing connectivity among regions on land and by sea, and update the laggard infrastructure in Asia and Africa.

China’s future policies when the world is struggling amid a weak recovery, are hence expected to garner more attentions both at home and abroad.

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China’s top leadership announced in late February that China will step up supply-side structural reforms and green economy, and tap the potential of domestic demand. The world’s second largest economy is now shifting its dependence from investment and manufacturing to domestic demand and service industry.