China-Pakistan Economic Corridor (CPEC) is the biggest and most crucial project between Pakistan and China. It is a mega project under China’s Belt and Road initiative. It is claimed that 200 CPEC Projects will be Completed by 2030.
43 projects were confirmed during that start of the corridor out of which 20 are either completed or under construction.
A senior research fellow with the Chongyang Institute for Financial Studies at the Renmin University Zhou Rong, informed China Global Times, “Another 157 projects in the corridor will be gradually completed in the next 12 years.”
The project has been praised and criticized for various reasons. But the fact is that Pakistan economic growth rate increased to 5.97% in 2017 compared to 3.5% in 2013. This is top ranking in Asia. If things go as planned Pakistan’s economic growth is expected to rise by 9%.
Zhou Rong claimed that CPEC has created at least 60,000 jobs in Pakistan. By 2030 CPEC plans to open 700,000 job opportunities in the country. It will benefit millions of families in Pakistan.
Numerous Pakistanis are sent to China to get trained and become the future leaders in Chinese-funded companies. Rong also addressed the rumors made by Western Media claiming that CPEC is the beginning of the British East India Company that will colonize Pakistan and that Pakistanis will become prisoners in their own country. China responsed to the claims many times making it clear that China respects the economic and social growth in Pakistan and is not looking for an equivalent reciprocity. Rong said that China has never stopped companies from other nations from entering the Pakistani market. China prefers Pakistan as Pakistan has resources which can be utilized for the benefit of both the nations.
Rong added, “I strongly agree with the China-Pakistan Life Rescue Corridor that is being built. We can also build corridors on employment and industrial parks so as to increase cooperation between bilateral enterprises and interaction between Pakistani and Chinese people.”