Federal Minister of Planning, Development and Reforms, Ahsan Iqbal said that all efforts are underway to speed up the development work on the China-Pakistan Economic Corridor (CPEC). He asserted that the civil-military leadership is committed for the quick completion of the project which will usher economic stability and prosperity not only in Pakistan but also in the neighboring region. The project would bring revolutionary changes and will overcome the energy crisis of Pakistan by the year 2018.[1]

Habib Bank Limited stands as the first South Asian lender to operate in the world’s second largest economy since it has been allowed to open a branch in China. The bank intends to open a branch in Urumqi, the rising business and industry center and the regional hub for China’s Belt and Street Initiative (B&RI) in Central Asia.[2]

Foreign Direct Investment (FDI) in Pakistan has registered a 15 percent growth during the first nine months of the current fiscal year, owing to the inflow for projects under the CPEC. The government has estimated $2.1 billion FDI disbursement from China in 2015/16, and power and construction sectors have been estimated as the prime recipients. According to data released by the State Bank of Pakistan (SBP), the country received $975.4 million as FDI during July-March 2015/16 which is $125.2 million higher than the corresponding period of the last fiscal year.[3]

[1]http://www.thenews.com.pk/latest/113362-CPECs-first-phase-to-be-completed-by-2018-Ahsan-Iqbal

[2]http://tribune.com.pk/story/1087196/hbl-to-open-branch-in-china/

[3]http://tribune.com.pk/story/1087399/foreign-investment-china-contributes-more-than-half-to-fdi-inflow/