Pakistan and China, on Thursday, expressed satisfaction over the positive trajectory of their bilateral relations and agreed to work closely on the next phase of the upgraded China-Pakistan Economic Corridor (CPEC 2.0), including its five new corridors.

Bilateral ties and cooperation were discussed during a meeting between Prime Minister Shehbaz Sharif and Chinese Premier Li Qiang in Beijing.

In their warm and friendly exchange, Prime Minister Shehbaz expressed deep gratitude to the Chinese leadership and people for their steadfast support for Pakistan’s territorial integrity, sovereignty, and socio-economic development.

Building on the consensus reached during the Prime Minister’s meeting with President Xi Jinping on Tuesday (September 2, 2025), both leaders reaffirmed their resolve to further strengthen the iron-clad, all-weather strategic cooperative partnership between Pakistan and China.

The signing of the Joint Action Plan 2024–2029 was described as a significant milestone in this regard.

Prime Minister Shehbaz congratulated the Chinese leadership on the successful hosting of the SCO Council of Heads of State Summit in Tianjin and extended felicitations on the 80th anniversary of China’s victory in the War of Resistance and the World Anti-Fascist War.

Paying tribute to China’s remarkable transformation under President Xi Jinping’s leadership, Prime Minister Shehbaz stated that Pakistan seeks to emulate China’s model of development and build a closer Pakistan-China community with a shared future.

He noted that Pakistan’s ongoing reform efforts were beginning to yield results, supported by China’s strong backing.

He also shared Pakistan’s intention to issue Panda Bonds in the Chinese capital market soon.

On the economic front, the prime minister highlighted the vital role of CPEC — a flagship project of President Xi’s Belt and Road Initiative (BRI) — in advancing Pakistan’s socio-economic development over the past decade.

He emphasised the early implementation of key projects, including ML-1, the realignment of the Karakoram Highway (KKH), and the full operationalisation of Gwadar Port.

Stressing the vast potential for business-to-business (B2B) cooperation and investment, he briefed Premier Li on the B2B Investment Conference held earlier in the day, attended by over 300 Pakistani and 500 Chinese companies.

He identified agriculture, mines and minerals, textile, industrial sector and IT as priority areas for mutually beneficial economic collaboration.

The prime minister also reiterated Pakistan’s support for President Xi’s initiatives, including the Global Development Initiative, Global Security Initiative, Global Civilisation Initiative, and Global Governance Initiative, emphasising Pakistan’s commitment to multilateralism.

Pakistan and China will celebrate the 75th anniversary of diplomatic relations next year.

The two leaders also attended a signing ceremony for a series of Memorandums of Understanding (MoUs) and agreements on cooperation in areas such as CPEC 2.0, science and technology, IT, media, and agriculture.

The delegation-level talks concluded with a luncheon hosted by Premier Li Qiang in honour of Prime Minister Shehbaz Sharif and his delegation.