China keen to invest $1bn in medical city, economic sectors

A Chinese business delegation met with President Asif Ali Zardari in Karachi on Thursday and expressed interest in investing $1 billion in a medical city, as well as in diverse sectors of the economy. Pakistan has held strong bilateral relations with China which has supported it through many investments and development projects such as the China-Pakistan Economic Corridor project which was termed as a “lifeline” for the country’s economy. Earlier, China was revealed to be Pakistan’s largest creditor with almost $29 billion in loans, according to a World Bank report. China had the single largest share of debt to Pakistan with a 22 per cent share.