China Cautious on Saudi Investment Plan for Pakistan

Beijing: China on Monday said the China-Pakistan Economic Corridor (CPEC) is an open and transparent project and contribution by any country to the initiative will be a “positive factor”. “Such cooperation has always been open and transparent. If any other party will like to contribute positive factors to promote the inter-connectivity and prosperity of the region on the basis of consultation, I think this is a positive factor,” Chinese Foreign Ministry spokesperson Lu Kang said. He was reacting to Islamabad’s announcement that Saudi Arabia will join the CPEC as a third partner, only to retract and say that Riyadh will invest in Pakistan and not in the project.

“As for the specifics, I have no information,” Lu added. India is opposed to the CPEC — the mainstay of Chinese-funded Belt and Road Project — as the initiative has been planned to be built through disputed Kashmir area claimed by Delhi but administered by Islamabad. (IANS)