Paying glowing tributes to Chinese President Xi Jinping for his leadership qualities, Chief Minister Punjab Shahbaz Sharif said his vision and thoughts represent aspirations of the World Community.

“Amid concerns and apprehensions about the future of international order, President Xi Jinping has come to represent the aspirations of the world community,” he said in his article published in China’s State-run newspaper Peoples Daily.

As a statesman, President Xi Jinping has had his finger on the pulse of the people when he says that reform of the existing global governance system and mechanism is necessary in view of the evolution the world landscape and major transnational challenges are undergoing.

His advocacy of a shared approach on the part of the world community is premised on employing innovation to revamp the existing system in an attempt to build more 'equitable, just and effective architecture of global governance', one which meets the aspirations of the people.

Shahaz Sharif said, “Two initiatives of President Xi need to be talked about here that show that China is taking practical steps to set up a model of development that benefits not just her but also builds win-win partnerships aimed at distributing the fruits of prosperity.

The establishment of the Asian Infrastructure Investment Bank (AIIB) represents China's response to the growing needs of the Asian communities for infrastructure development. This initiative is in line with China's declared aim of making greater contribution to international development endeavours, for the Chinese are convinced that much of their progress owes itself to international cooperation.

AIIB will play the leadership role in the Asian continent in terms of provision of funds for infrastructure development. This role is all the more critical when seen in the context of likely funding deficit to the tune of $ 800 billion during the decade of 2010-2020 as per projection of the World Bank and Asian Development Bank.

The second initiative of President Xi Jinping is his 'Belt and Road' vision that has the potential to redefine global geopolitics by making 'shared fruits of economy and trade' the pivot of the whole dynamic concept.

This initiative that proposes six corridors including the China-Pakistan Economic Corridor will eventually connect 65 plus countries through air, road, and sea routes thereby resulting in increased trade flows to the tune of $2.5 trillion according to one estimate.

The Belt and Road initiative is in line with the Chinese President's vision of 'building a community of shared interests, destiny and responsibility.' It is a part of China's grand strategy of deepening reform and opening-up.

The ideas of win-win partnership that President Xi has espoused at every level whether it is UN General Assembly's 70th Session in New York, G20 Hangzhou Summit in China, or 8th BRICS Summit in India, are defined by peace, inclusiveness and prosperity.

The China-Pakistan Economic Corridor, which is a flagship project of the Belt and Road initiative, is undergoing robust implementation at the moment. The projects of worth $ 30 billion are being implemented. Eight industrial zones to bet set up in all the provinces of Pakistanwill create investment and employment opportunities. With a major chunk of the CPEC investment i.e. $34 billion earmarked for energy sector projects, Pakistan's GDP will be strengthened by 2pc straightaway on their completion.