Wang Yiwei Senior Research Fellow, Chongyang Financial Research Institute, Renmin University of China, and Senior Research Fellow, Chahar Institute.
Moody’s, an internationally renowned credit rating agency, recently commented that the China-Pakistan Economic Corridor project has obviously promoted Pakistan’s economy. Driven by the China-Pakistan Economic Corridor, Pakistan’s economy is expected to maintain a growth rate of 5% in the next two years.
For Pakistan, the China-Pakistan Economic Corridor is a real project, bearing the heavy responsibility of economic take-off and even national rise. For China, this project will help to promote regional interconnection and promote the common development and prosperity of regional countries.
This is the supporting dock facilities of Hubu coal-fired power plant under construction, which was photographed by drone in Hubu area of Balochistan province, Pakistan on March 21, 2017. China Electric Power International Co., Ltd. participated in the construction of the Hubu coal-fired power station project, and held a groundbreaking ceremony in Hubu District, Balochistan Province on the 21st. This marks the official groundbreaking of another large-scale energy project in the China-Pakistan Economic Corridor. The construction contents of the project mainly include power plants and special coal terminals, with a planned total installed capacity of 1,320 MW. After the project is completed and put into operation, it can supply 900 million kWh of electricity every year, meeting the electricity demand of 4 million households in Pakistan. Xinhua News Agency reporter Liu Tianshe
China-Pakistan Economic Corridor: The Sweet Opening Song of the Symphony "Belt and Road"
The China-Pakistan Economic Corridor starts in Kashgar, Xinjiang, and ends in Gwadar Port, Pakistan, with a total length of 3,000 kilometers. It is connected to the Silk Road Economic Belt in the north and the 21st Century Maritime Silk Road in the south. It is a key hub connecting the North and South Silk Roads and a trade corridor including roads, railways, oil and gas and optical cable channels. Regarding this "flagship project" of the Belt and Road Initiative, Foreign Minister Wang Yi once said: "If we say ‘ Belt and Road ’ If it is a symphony that benefits many countries, then the China-Pakistan Economic Corridor is the sweet opening song of this symphony. "
In April 2015, the Chinese and Pakistani governments initially formulated a long-term plan to build a "four-in-one" channel covering roads, railways, oil and gas pipelines and optical cables from Kashgar, Xinjiang to Gwadar Port, the southwest port of Pakistan. China and Pakistan will build transportation and power facilities along the route. It is estimated that the total project cost will reach 45 billion US dollars, and it is planned to be completed in 2030.
On April 21st, 2015, the Supreme Leader of president delivered an important speech entitled "Building a Community of Destiny between China and Pakistan and Opening a New Journey of Win-Win Cooperation" in the Pakistani Parliament. In his speech, President Xi pointed out that the China-Pakistan Economic Corridor is an important starting point for China and Pakistan to achieve common development. We should give full play to the leading role of corridor construction in pragmatic cooperation between the two countries, and form a "1+4" cooperation layout with corridor construction as the center and Gwadar Port, energy, infrastructure construction and industrial cooperation as the focus. Corridor planning and layout should take into account all regions of Pakistan, so that the fruits of development can benefit all people in Pakistan, and then benefit the people of all countries in the region.
"12345" of China-Pakistan Economic Corridor
The connotation and trend of China-Pakistan Economic Corridor can be summarized by "12345".
A corridor:That is, the China-Pakistan Economic Corridor, which is the flagship corridor of the six economic corridors of the Belt and Road Initiative.
Two countries:The China-Pakistan Economic Corridor is a symbol and sublimation of the friendship between China and Pakistan.
Three stages:The construction of China-Pakistan Economic Corridor is mainly divided into three stages. The early stage is from 2013 to 2020, focusing on energy and infrastructure construction, which is the premise of industrialization, like building a house and laying a foundation. The medium-term stage is from 2021 to 2025, which is the take-off stage of industrialization, just like building a building. The long-term stage is from 2025 to 2030, and the construction focuses on culture, finance, tourism, trade, industry and commerce, transportation and other fields, such as interior decoration of buildings. At present, Pakistan has basically completed the long-term corridor planning.
Four pillars:The four pillars of the China-Pakistan Economic Corridor include energy such as electricity, infrastructure such as roads, railways, air routes, oil roads and information superhighways, Gwadar Port and Karachi Export Processing Zone.
Five major effects:First, the demonstration effect of China-Pakistan cooperation: encouraging more countries to learn from the China model; The second is the industrial transfer effect, realizing the third wave of Asia’s rise; Third, the north-south balance effect: connecting Eurasia (with Xinjiang as the core) with the Indian Ocean, realizing the great balance between the north and the south, and realizing geopolitics — Geo-economy — Logical transfer of geo-civilization; Fourth, the regional cooperation effect of Greater South Asia: through the cooperation of China, Pakistan, Afghanistan, China, Pakistan and India, the spillover effect of China-Pakistan economic corridor will be realized, which will serve the trinity of "development, security and governance" and attract foreign countries to participate and form an international cooperation demonstration; Fifth, the global governance effect, through pragmatic cooperation between China and Pakistan, to solve Pakistan’s "long-term poverty — Tribal violence — The vicious circle of terrorist attacks.
Confucius said, "If you want to stand and be a man, you want to reach and be a man.". The China-Pakistan Economic Corridor is the flagship corridor of the Belt and Road Initiative. It undertakes the mission of extending China’s industrial chain, helping Pakistan realize industrialization, modernizing its national governance capacity and governance system, and jointly building a community of destiny between China and Pakistan.