Xi Jinping says will support Pakistan in stabilising its financial situation

• China, Pakistan should effectively move forward with CPEC's construction: President Xi. 
• Says both countries should accelerate Gwadar Sea Port's construction. 
• PM Shehbaz, President Xi exchange views on regional, global developments.

BEIJING: China will continue to support Pakistan in stabilising its financial situation, state media quoted China's President Xi Jinping as saying on Wednesday.

China and Pakistan should move forward more effectively with the construction of their economic corridor, as well as accelerate the construction of infrastructure for the Gwadar Sea Port, state media reported.

The statement was reported by Reuters after Prime Minister Shehbaz Sharif held a meeting with China's President Xi Jinping which focused on increasing multilateral cooperation between both countries especially the China-Pakistan Economic Corridor (CPEC).

PM Shehbaz is on a two-day official visit with a high-level delegation at the invitation of Premier Li Keqiang. The meeting was primarily aimed at revitalising the CPEC project.

The meeting took place at China's Great Hall of the People during which the two leaders discussed the broad-based cooperation in economy and investment.

As per the Pakistani government statement, both leaders exchanged views on regional and global developments. They also held discussions to further strengthen the strategic partnership between both countries. 

PM holds delegation level talks with Premier Li

After his meeting with President Xi, Prime Minister Shehbaz Sharif held delegation level talks with Premier Li Kiqiang.  

Information Minister Marriyum Aurangzeb said that talks "deliberated upon CPEC extension to harness multiplier effects in terms of future socio-economic development and geopolitical stability". 

Before the talks, PM Shehbaz was also given a guard of honour at the Great Hall of the People. 

Chinese companies accept PM's invitation to invest clean water project 

The Chinese companies have accepted PM Shehbaz's invitation to invest in several projects including providing clean water in Karachi.

The companies have shown keen interest in investment and joint ventures in Pakistan. The PM has also invited leading companies of China to visit Pakistan.

The premier has also offered the companies to jointly work on 10,000MW solar power project. He also urged to speed up the work on Gwadar Airport and complete it this year, to which the Chinese company assured the construction to be completed by the start of next year.

Speaking to the delegation of the companies, the prime minister apologised and said that he is aware of the issues in the past. He said that he solved the issues of faced by the companies after assuming office and paid Rs160 billion owed to the companies while Rs50 billion have been paid yesterday and the established a revolving fund of Rs50 billion.

PM Shehbaz said that the Sindh government is ready to work with the companies to solve the water supply issue in Karachi.

Second phase of CPEC to usher new era of development 

Before departing for Beijing on November 1, the premier said that he was "honoured to be among the first few leaders to have been invited after the historic 20th National Congress of the CPC".

He said that the second phase of CPEC is expected to usher in a new era of socioeconomic development that will improve the standard of living for our people.

The premier also said that there is a lot to learn from the Chinese economic miracle.

"At a time when the world is grappling with multiple challenges, Pakistan and China stand together as friends and partners," he said.

A day before the visit, China warmly welcomed the PM's visit and said it looked forward to further advancing high-level strategic cooperation between the two countries and bringing more fruitful outcomes from Sino-Pak friendship to the benefit of the two people.

Chinese Foreign Ministry Spokesperson, Zhao Lijian, said that no matter how the international or domestic situations had evolved, the China-Pakistan friendship had been carried on from generation to generation.

"Our two countries have always supported each other on issues concerning respective major interests and have stood together and helped each other in the face of major natural disasters," he added.