Author: Dr Arif

LAHORE, Pakistan/SHANGHAI : Zhang Yang, a businessman from Chongqing in southwest China, is searching online forums for fellow stout-hearted entrepreneurs willing to cast aside security concerns and join him on a scouting mission to Pakistan. Zhang, 48, is one of a growing number of Chinese pioneers sensing an opportunity across the Himalayas in Pakistan, where Beijing has pledged to spend $57 billion on infrastructure projects as part of its “Belt and Road” initiative. Numbering in the thousands, this second wave of Chinese arrivals are following in the wake of workers on Belt and Road projects. Some are opening restaurants and…

SHANGHAI, Aug 19: Pakistan can achieve objective of economic development and become a major industrial zone by attracting Chinese investment and surplus production because of its low labor cost and big consumer market. “China is a huge economic power and looking forward to new markets for its surplus production and Pakistan could become an ideal destination for Chinese investment and goods because of vibrant middle class and hardworking workforce,” Pakistan Counsel General, Shanghai, Dr. Naeem Khan said on Friday. He opined that with huge consumers market and skilled, hardworking and low cost labor, Pakistan can attract the Chinese investors and…

Karachi, Aug.19: Bank of China (BOC),one of the 5 biggest state-owned commercial banks in China, is set to commence banking operations in next few months as the bank seeks to expand its presence in the Pakistani market and help meet financing requirements of China-Pakistan Economic Corridor (CPEC) related projects, the central bank’s official said on Friday. Pakistan’s central bank issued a banking licence to BOC on May 11, 2017 to carry out banking business in branch mode. “After fulfilling all regulatory requirements and achieving operational readiness, the BOC will approach SBP for permission to commence business within a timeframe of…

SINGAPORE, Aug 2: Hong Kong-ASEAN Free Trade Agreement (FTA), which is likely to be inked by the end of 2017, is mutually beneficial for both the Hong Kong Special Administrative Region of China and ASEAN member countries, said Mrs. Carrie Lam, Hong Kong Chief Executive during a visit to Singapore on Aug.2, 2017. Hong Kong’s active role in the Belt and Road Initiative added to the justification of the view, she added while meeting the press after launching ceremony of a photo show together with Singapore’s Senior Minister of State for Culture, Community and Youth Sim Ann and Chinese Ambassador…

Bishkek, (Kyrgyzstan), July 7: One Belt, One Road and Xinjiang,” an exhibition of works of art on paper made from the bark of the mulberry tree opened Tuesday in Bishkek, capital city of Kyrgyzstan, featuring Chinese calligraphy and painting. Wei Baoshan, senior secretary of the Xinjiang Academy of Chinese Painting greeted guests and showed off his calligraphic skills at the opening ceremony. “This is one of the oldest craft on earth, a living relic of civilization and the greatest invention on the ancient Silk Road, which spread to Central Asia and Europe,” said the Chinese artist. The form of art…

Islamabad, June 24: China National Electric Company has prepared feasibility report of Rashakai Industrial Zone to be constructed in Mardan city under CPEC, a large project of Belt and Road Initiative. The report was presented to Khyber Pakhtunkhwa Chief Minister Pervez Khattak by the company’s Chief Executive Li Nangzhi at a meeting in Peshawar on June 24, 2017.. The meeting was informed that the zone will consist of two hundred industrial units, including steel, medicine, Halal food, textile and auto parts industries. More than one thousand acres of land has already been acquired for this purpose. On completion, the zone…

China and the United States, as the world’s top two economies, need to enhance communication on the Belt and Road Initiative, which can benefit both countries and the whole world, said participants of a high-level think-tank dialogue here on Wednesday. Kevin Rudd (R), president of the Asia Society Policy Institute, delivers a speech at the High-level Dialogue on U.S.-China Economic Relations in New York, the United States, on June 14, 2017. More than 30 scholars from leading think-tanks in both China and the United States gathered here on Wednesday to discuss the bilateral economic and trade relationship between the world’s…

Islamabad, June 5: The China-Pakistan Economic Corridor (CPEC) and a stable macroeconomic environment will give a spur to private investment in Pakistan, says report of the World Bank’s June 2017 Global Economic Prospects. The World Bank says successful completion of an IMF-supported program has helped achieve macroeconomic stability in the country. It said favorable weather and increased cotton prices are supporting agriculture produce. The report says Pakistan’s growth is expected to be 5.7 percent s during the current financial year. Source by: nihao-salam.com