China assures necessary support to Pakistan to overcome economic crisis

Rising Kashmir

India logdes protest against Pakistan, China over bus services which passes through Pak-Occupied Kashmir

Now it is on the ground. "And it has caught the imagination of the people of Pakistan", he said.

While India, which is backed by the United States and a number of western countries has garnered the support of a majority of the group's members, China has stuck to its stand that new members should sign the Nuclear Non-Proliferation Treaty (NPT), making India's entry hard as the group is guided by the consensus principle. "It gives us an opportunity to raise our standard of living, growth rate". "You will see the difference because a lot has happened since 2013".

Pakistan is already highly dependent on China as the bulk of the foreign loans inherited by Mr Khan's government are with Chinese lenders.

China's Premier Li Keqiang and his Pakistani counterpart Imran Khan signed 15 agreements and memorandums of understanding in the Great Hall of the People in the Chinese capital, pledging stronger cooperation in fields such as poverty alleviation, agriculture, industry and science.

Pakistan and China don't share a border.

The government is also seeking an emergency bailout from the International Monetary Fund (IMF) to avert a balance of payments crisis.

In a joint statement released as Mr Khan flew to Shanghai, China also came out in support of "Pakistan's efforts for improvement of Pakistan-India relations and for settlement of outstanding disputes between the two countries".

The CPEC is a $46 billion-worth infrastructure project funded by China that aims at increasing the region's integrity by connecting the Pakistani port city of Gwadar and the Xinjiang Uyghur Autonomous Region via transportation routes.

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"As for the specific measures to be taken, the competent authorities of the two sides will have detailed discussions", Kong told reporters.

To a question whether there will be changes in the CPEC projects, Kong said: "there has been no change in the number of CPEC projects".

Pakistan is now battling serious economic crisis including balance of payments.

It was also agreed that China will support Pakistan in establishing special economic zones, according to sources.

Pakistan has said the project isn't a major contributor to Pakistan's debt or a cause of the "financial difficulties it faces now faces", Lu said, adding that discussions will focus on "how to better drive forward with the building of the project". "The economic corridor project will certainly boost the local economy of Pakistan as it will create new jobs and inject cash into local communities", Cheng said.

However the scope of the project would increase and will tilt in favour of people's livelihoods, Kong said, also without elaborating.

Both sides expressed satisfaction at the progress of CPEC which is a flagship project of Belt and Road initiative. "Both sides emphasised the importance of pursuit of dialogue and resolution of all outstanding disputes to promote regional cooperation and advance the goals of lasting peace, stability and shared prosperity", it said.

Khan lauded President Xi and other Chinese leadership for bringing down poverty in China and bringing out 700 million people from poverty in 30 years.

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