The Prime Minister of Pakistan is on his first two-day visit to Beijing. Where he met Chinese President Xi Jinping on Wednesday. Meanwhile, state media quoted President Xi Jinping as saying that China will continue to support Pakistan as it tries to stabilize its financial situation. Along with this, the two leaders have agreed to strengthen their friendship and the $ 60 billion China-Pakistan Economic Corridor (CPEC).
Pakistan facing an economic crisis
Pakistan is facing a big economic crisis these days. He is trying his best to overcome this. Even before devastating floods hit the country this summer, Pakistan is troubled by a balance of payments crisis. The bulk of Pakistan's $27 billion bilateral debt, about $23 billion, remains on account of Chinese debt. China and Pakistan have always been strong allies, with Sharif also likely to raise security-related issues during his visit.
China's aid to Pakistan
China's central bank and the State Bank of Pakistan recently came to the fore for cross-border transactions by enterprises and financial institutions in both countries. A Memorandum of Cooperation has been signed to set up an RMB clearing system in Pakistan to facilitate the use of RMB. This information was given by the People's Bank of China (PBOC) on Wednesday.
Great Hall of the People Meeting
President Xi Jinping told Prime Minister Shahbaz Sharif during their meeting at the Great Hall of the People that China and Pakistan should proceed more effectively with the construction of their economic corridor, as well as the infrastructure for the Gwadar Sea Port. Construction should be expedited. He said China has been involved in major mining and infrastructure projects in Pakistan, including the deepwater Gwadar port, all part of the $65 billion China-Pakistan Economic Corridor (CPEC).
Also Read: COP 27: Humanity groaning from the climate crisis, floods in Pakistan, and severe heat in Europe
On the main bathing festival Mahashivratri, if you come from Lucknow, Pratapgarh, then you will t
Lok Sabha Election 2024. All political parties are continuously releasing the list of their candi
In IPL 2023, the doubleheader match will be played on Saturday i.e. 15th April. The 16th match of
Three cases including murder have been registered against Haryana's Gurmel who was arrested in th
Bihar BJP state president and state deputy chief minister Samrat Chaudhary has reacted sharply to
Exclusive: Owaisi lashed out at BJP over Uniform Civil Code, said- I will protest
All India Majlis-e-Ittehadul Muslimeen (AIMIM) chief Asaduddin Owaisi arrived on a two-day Gujara
The amazing trailer of Vicky Kaushal's much-awaited film 'Sam Bahadur' was released yesterday on
Maidaan Teaser: Ajay Devgan's film 'Bholaa' has come among the audience. This film is getting a l
Telecom regulator Trai has recommended the installation of small equipment for 5G services on ele
The debate is going on in the Bombay High Court regarding the removal of the phrase Jai Shri Ram
