BEIJING: China-Pakistan Economic Corridor (CPEC) that is major and pilot project of China's Belt and Road Initiative has been the part of China’s success story during the outgoing year (2016), reports Chinese media.
The Belt and Road Initiative has attracted worldwide attention and has been widely welcomed since its introduction three years ago. In 2016, with efforts of many countries, the initiative accomplished a series of achievements in many fields, implementing several landmark projects.
More than 100 countries and international organizations have voiced their support or strong interest in participating in the initiative, and China has signed cooperation deals with more than 40 of them.
The reports quoting official sources stated, despite challenges including anemic world growth and volatile global financial markets, China pressed ahead with key reforms in 2016, had steady growth and improved its global influence.
Economy stabilizing is another major success in the outgoing year. China's capital market fluctuations at the start of 2016 signaled it was going to be a tough year. However, despite the rocky start, the economy is ending the year on a firm footing, and this year's growth target will be met.
In the first three quarters, GDP growth was 6.7 percent, within the government's target of between 6.5 and 7 percent.
At the Central Economic Work Conference held earlier this month, China's leaders said the economy has stayed in a proper range in 2016, but with more quality and efficiency.
China had also major achievement in poverty alleviation. The country is on track to achieve the target of lifting 10 million people out of poverty during the year.