China says willing to help Pakistan over fiscal crisis

05 November, 2018, 05:48 | Author: Emmett Rice
  • Rising Kashmir

Vice Foreign Minister Kong Xuanyou, who briefed the media after Li-Khan talks, said China will provide "necessary support" to Pakistan to tide over the present financial crisis but declined to reveal the amount.

"China appreciates Pakistan's quest for peace through dialogue, cooperation and negotiation, on the basis of mutual respect and equality, and supports Pakistan's efforts for improvement of Pakistan-India relations and for settlement of outstanding disputes between the two countries", the joint statement said.

China and Pakistan are all-weather strategic cooperative partners.

China also heaped praise on Pakistan for its efforts to counter terrorism and said it recognised Islamabad's efforts in actively strengthening financial regulations to combat terrorism financing, and called on all relevant parties to view Pakistan's counter-terrorism efforts in an objective and fair manner.

The historic meeting of the two leaders will reinforce shared commitment to take all-weather and time-tested Pakistan-China friendship to new heights and would further strengthen the existing multifaceted equation of the two countries for the benefit of the two countries and the region.

India is opposed to the $60 billion CPEC whose planned route is through the disputed Kashmir held by Pakistan. He said that the Pakistani side admires China's achievements in reform and development and looks forward to learning from China's experience in governance, strengthening coordination with China on worldwide and regional affairs and continuously enriching the all-weather strategic cooperative partnership.

"Both sides noted with satisfaction that Chinese and Pakistani banks have operations in both countries".

The two sides firmly move forward the CPEC, while ensuring the smooth operations of the completed projects and advancing the ongoing projects, he said.

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Since taking office, Khan has softened his criticisms of the Chinese-backed projects and Finance Minister Asad Umar has said a review of contracts signed by the previous government has so far turned up no irregularities.

"The two sides have agreed to establish a foreign-ministerial dialogue mechanism to make overall planning and coordinate in various fields", he added.

"Pakistan wants to learn from China's experience in poverty alleviation and curbing corruption", he added.

He was talking to reporters after Khan and his Chinese counterpart Li Keqiang held talks at the Great Hall and supervised the signing of 16 bilateral deals.

"We will also bring people out of poverty in Pakistan". China endorsed the concept of market economy at the Third Plenum of the Communist Party a couple of years ago.

Earlier, on arrival at the Great Hall of the People, the Chinese Premier accorded warm welcome to Prime Minister Imran Khan.

China's stand he said is that the "cooperation between China and Pakistan has nothing to do with the territorial dispute and will not affect China's principled position on Kashmir", he said.

Experts say that the Chinese have pushed Pakistan into heavy debt through the CPEC, a charge denied by Beijing.

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