China pledges efforts to promote construction of CPEC (China-Pakistan Economic Corridor)

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Chinese Foreign Ministry spokesperson Lu Kang said Monday that China will work with Pakistan to promote the construction of China-Pakistan Economic Corridor (CPEC) projects.

Lu made the remarks when commenting on reported Pakistan’s saying yes to the International Monetary Fund (IMF) bailout.

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From the debt structure announced by the Pakistani government, debt of CPEC projects accounted for a very low proportion of Pakistan’s debt composition and was not the cause of the country’s financial difficulties, Lu said.

He said the CPEC was a project constructed by the two governments in accordance with the principles of achieving shared benefits through extensive consultation and joint contribution. The project selection and financing arrangements were determined by equal consultation between the two sides.

As a member of the IMF, China supports the organization in making objective evaluation of Pakistan based on professionalism, and effectively assisting Pakistan in properly coping with current difficulties, he said.

Lu added that relevant moves by the IMF should not affect normal bilateral cooperation between China and Pakistan.

Source: www.xinhuanet.com