Pakistan and China have agreed to expand the next phase of the China-Pakistan Economic Corridor (CPEC) with the launch of five new corridors aimed at deepening economic cooperation across multiple sectors. The decision was reached during a meeting between Prime Minister Muhammad Shehbaz Sharif and Chinese President Xi Jinping at the Great Hall of the People in Beijing, where both leaders reaffirmed their commitment to strengthening bilateral ties.
Prime Minister Shehbaz described CPEC as a flagship project of President Xi’s Belt and Road Initiative (BRI) and expressed Pakistan’s determination to work closely with China to ensure the success of its upgraded phase. He emphasized that the corridor was central to building a stronger Pakistan-China community with a shared future. Highlighting the project’s significance, Shehbaz said CPEC had already transformed Pakistan’s infrastructure landscape and its next phase would boost industrialization, connectivity, and regional trade.
President Xi reiterated China’s unwavering support for Pakistan’s economic development and assured the prime minister that Beijing would continue to stand by Pakistan in every field, particularly as CPEC 2.0 moves forward. Xi underscored that the upgraded framework will enhance bilateral cooperation in energy, industry, agriculture, technology, and regional integration.
The five new corridors under discussion are designed to broaden the scope of CPEC beyond infrastructure into more diversified areas of collaboration. The expanded model aims to not only strengthen Pakistan’s domestic economy but also create deeper connectivity with the region through sustainable projects aligned with the Belt and Road Initiative.
The commitment follows the 6th Strategic Dialogue held earlier in August between Deputy Prime Minister and Foreign Minister Ishaq Dar and Chinese Foreign Minister Wang Yi. During that dialogue, both sides reaffirmed their resolve for the high-quality development of CPEC, reviewing a wide range of bilateral, regional, and global issues. Dar highlighted the shared vision of the two nations in upgrading CPEC into its next phase, reflecting the complete unanimity on advancing mutual interests.
Prime Minister Shehbaz also praised President Xi’s leadership, describing it as visionary and transformational, and congratulated him on the success of the recent SCO Council of Heads of State Summit in Tianjin. He also lauded China’s modernization achievements and pledged Pakistan’s continued partnership in supporting initiatives such as the Global Development Initiative, Global Security Initiative, Global Governance Initiative, and Global Civilization Initiative.
In a symbolic gesture of strengthening ties, Shehbaz extended an invitation to President Xi to visit Pakistan next year as both countries prepare to celebrate the 75th anniversary of their diplomatic relations. The prime minister’s ongoing visit to Beijing follows his participation in the SCO summit in Tianjin, with a packed agenda that includes attending the World War Against Fascism anniversary events and addressing the China-Pakistan Business-to-Business Conference.
The renewed push for CPEC 2.0, centered around the development of five corridors, signals a fresh chapter in the Pakistan-China partnership. Both countries continue to view the initiative not just as an economic project but as a cornerstone of their long-term strategic relationship, promising transformative impact for regional connectivity, trade, and growth.
Follow the PakBanker Whatsapp Channel for updated across Pakistan’s banking ecosystem.