Neighboring allay China has rejected ‘Indian media’ reports that it is backing away from its initial financial promises to Pakistan under the China-Pakistan Economic Corridor (CPEC).

Responding to a question during a press briefing in Beijing, Chinese Foreign Ministry spokesperson Zhao Lijian said such reports are groundless and both countries are resolute in pushing forward the construction of this mega project.

“Such reports are groundless. As an important pilot project of the BRI, CPEC has maintained positive momentum of development since its inception in 2013. Amid the COVID-19 epidemic, there is no stop of the construction, no job cut and no withdrawal of workforce of the CPEC projects, which effectively supports Pakistan in fighting the epidemic and stabilizing the economy. These are facts that my colleagues and I shared with you on several occasions,” Zhao Lijian said.

He informed that the second meeting of the CPEC Joint Working Group on International Cooperation and Coordination (JWG-ICC) between China and Pakistan was held last Friday in Xinjiang.

“I want to stress that China's input in the BRI, including CPEC, has increased despite global economic recession. In the first three quarters this year, China's direct investment in non-financial sectors in BRI partner countries grew by around 30% year on year. China has provided as much support and assistance as possible to help many BRI partners combat COVID-19 and recover economy,” said Zhou.

China also rejected reports suggesting that China is seeking additional promises from the Pakistani government on CPEC loan guarantee, terming them as ‘simply baseless.’