Tag: China

Pakistan signs multi-million dollar deal to export pine nuts to China

Pakistan is going to start exporting pine nuts to China soon. A Chinese snack company, Bestore, has inked a deal worth 300 million yuan ($42 million) with Pakistani pine nut company Halo foods. According to Yang Yinfen, CEO and president of Bestore, hand peeled pine nuts are one of the most expensive nut products for Bestore now as both demand and output has grown rapidly. 

China to set up 19 new factories in Gwadar

Chinese Ambassador to Pakistan Yao Jing has announced that China will be setting up 19 factories in Gwadar. Yao Jing said that the measure will help create job opportunities for Balochistan’s youth. “China seeks to contribute to the development of Balochistan’s mining, agriculture, fisheries and water sectors while the Chinese consulate is easing visa procedure for the provincial business community,” said Jing.

China starts providing 5G services for commercial use

China has launched 5G services in the country for commercial use by providing licenses to the country’s three telecom operators, including China Mobile, China Telecom and China Unicom. The companies have introduced 5G data plans for their users in the major cities of China. Some packages are depending on the speed instead of data allowance starting from 199 Yuan (PKR 44,00) for 500Mbps and some are some data-based packages which start from 128 Yuan (PKR 28,00) with 30GB data

China wants to invest in Pakistan’s halal meat industry

During a meeting with Minister for States & Frontier Regions and Narcotics Control Shehryar Khan Afridi, Chinese Minister showed interest in investing in the halal meat industry in Pakistan, exporting it to China and Middle Eastern countries. He vowed to showcase Pakistani products and halal food in Chinese markets. According to Afridi, Chinese President Xi Jinping’s vision will benefit the underdeveloped countries.

Pakistan Navy to get advanced guided missile frigates from China

In a major arms deal with China, Pakistan will get 4 advanced guided-missile frigate Type 054AP. The steel cutting ceremony for two of these multi-role Frigates took place at Hudong Zhonghua Shipyard in China on 1st November. With ships expected to enter service by 2021, Pakistan Navy’s arsenal will increase, strengthening the force’s capability to maintain peace and stability in the Arabian Sea.

China to become first country to launch its digital currency

China is all set to launch its own digital currency and by doing so, becoming the first country in the world to issue its Central Bank Digital Asset. The currency will be named DCEP (Digital Currency Electronic Payment), according to Huang Qifan, Executive Vice President of the China International Economic Exchange Centre. He also mentioned that People’s Bank of China (PBoC) has been working on rolling out the crypto currency for the past 5-6 years. 

Pakistan to export gemstones and jewellery to China

After a meeting held of the Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI) in Lahore, Pakistan decided to export gemstones and jewellery to China as opportunities for improving bilateral trade were explored during the meeting. Pakistan possesses large untapped reserves of precious gemstones which can be exported to China as China is the biggest buyer of jewellery and gemstones. 

Pakistan to export multiple JF-17 Thunder jets

Pakistan is aiming to export it’s JF-17 Thunder fighter planes to four countries, according to various reports. The country is looking for numerous perspective buyers across the globe including Myanmar, India’s neighbor and traditional defense partners of New Delhi i.e Nigeria. Myanmar has already bought four JF-17’s, furthermore, Pakistan hopes to sell them to Malaysia and Azerbaijan as well.

Prime Minister to offer PSM to China

Prime Minister Imran Khan has decided to offer handing over Pakistan Steel Mills (PSM) to China through government to government deal during his upcoming vist to Beijing on October 07, 2019.  He decided to discuss five major issues including offering PSM, finalising deal on modernisation of railway Mainline (ML-1), financing of Bunji hydropower project, agriculture and social sectors-related projects in and outside the ambit of China Pakistan Economic Corridor (CPEC). 

Corrupt Communist party official could be the new richest man in China

Recovery of thousands of gold bars and bricks from the residence of senior Communist Party official could make him the richest man in China. With gold worth up to £520m, Zhang Qi would have been richer than Jack Ma, the wealthiest man in China worth $37 billion. China’s anti-corruption watchdog also discovered 268 billion yuan (£30 billion) in suspected bribes from Zhang Qi’s account.