Pakistan and China Agree to Continue Working Closely on Upgraded CPEC-II

Pakistan and China, on Thursday, expressed satisfaction over the positive trajectory of their relations and agreed to continue working closely on the next phase of the upgraded China-Pakistan Economic Corridor (CPEC 2.0), which includes five new corridors. Bilateral ties and cooperation were discussed during a meeting between Prime Minister Muhammad Shehbaz Sharif and Chinese Premier Li Qiang. During their “warm and friendly” meeting, the prime minister expressed his deepest gratitude to the Chinese leadership and nation for their unwavering support for Pakistan’s territorial integrity, sovereignty, and socio-economic development. Building on the important consensus reached between President Xi Jinping and the prime minister during their meeting on Tuesday (September 2, 2025), both leaders reaffirmed their shared resolve to further strengthen the iron-clad, all-weather strategic cooperative partnership between Pakistan and China. The signing of the Joint Action Plan 2024-2029 was deemed an important step in this regard. Prime Minister Shehbaz congratulated the Chinese leadership on the successful hosting of the SCO Council of Heads of State Summit in Tianjin and extended his felicitations to China on the 80th anniversary of the success of the Chinese people in the War of Resistance and the World’s Anti-Fascist War. Paying rich tribute to China’s impressive transformation under President Xi Jinping’s visionary leadership, the prime minister stated that Pakistan aspired to emulate China’s successes and build a stronger and closer Pakistan-China community with a shared future. He noted that his government’s tireless reform efforts were yielding promising results, made possible through China’s strong support. The prime minister also shared Pakistan’s intent to float Panda Bonds in the Chinese capital market soon. On the economic front, the prime minister highlighted the significant contribution of CPEC, a flagship project of President Xi’s Belt and Road Initiative (BRI), to Pakistan’s socio-economic development over the past decade. He stressed the need for the early implementation of ML-I, the KKH realignment, and the operationalization of the Gwadar Port. Emphasizing the vast potential for B2B cooperation and investment, the prime minister briefed the Chinese Premier on the B2B Investment Conference held earlier in the day, which was attended by more than 300 Pakistani and 500 Chinese companies. He identified agriculture, mines and minerals, textiles, the industrial sector, and IT as priority areas for mutually beneficial economic collaboration. The prime minister reiterated Pakistan’s support for President Xi Jinping’s landmark initiatives to strengthen multilateralism, including the Global Governance Initiative, Global Development Initiative, Global Security Initiative, and Global Civilization Initiative. Both countries will celebrate the 75th anniversary of the establishment of Pakistan-China diplomatic ties next year. The two leaders also attended the ceremony for the exchange of Memorandums of Understanding (MoUs) and agreements signed and announced between the two countries regarding cooperation in the development of CPEC 2.0, science and technology, IT, media, agriculture, and other sectors. The delegation-level talks were followed by a sumptuous luncheon hosted by the Chinese Premier in honor of the prime minister and his delegation.