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Pakistan Prime Minister Shehbaz Sharif, Chinese President Xi agree to upgrade CPEC

By Economic Times - 6 months ago
The CPEC, which connects Gwadar Port in Pakistan's Balochistan with China's Xinjiang province, is the flagship project of China's ambitious Belt and Road Initiative (BRI). The BRI is seen as an attempt by China to further its influence abroad with infrastructure projects funded by Chinese investments across the world. China has also invested billions in various power projects and road networks in Pakistan under the USD 65 billion CPEC plan, but the implementation of various projects has slowed in recent months.

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