Investments on BRI projects not dropping, including China-Pakistan Economic Corridor
Published: Dec 28, 2020 06:11 PM

Zhao Lijian Photo: VCG

China's foreign ministry denies the country's investments have dropped on Belt and Road Initiative (BRI), including the China-Pakistan Economic Corridor (CPEC).

China's non-financial direct investment in countries and regions along the Belt and Road increased by nearly 30 percent year-on-year in the first three quarters of 2020, Chinese Foreign Ministry spokesperson Zhao Lijian said on Monday.

"The investment on BRI, including the CPEC, has not declined, which is progressing well," Zhao said at the daily news briefing on Monday. 

As an important pilot project of the BRI, CPEC has maintained a positive development momentum since its launch in 2013.

Since the outbreak of the pandemic, projects in the corridor have seen neither staff layoffs nor project shutdowns, and a number of key projects have been accomplished or opened for operation, which has provided strong support for Pakistan to help fight the epidemic and stabilize its economy, Zhao said. 

Zhao said last Friday, the two countries held another working group meeting on proceeding the corridor, vowing that the two sides will implement the consensus of the leaders of the two countries and promote the development of the corridor.

The Matiari-Lahore high-voltage direct current transmission line, one of the key projects under the CPEC, was recently completed, the ministry said earlier this month, adding it will further improve electricity supply in Pakistan.