A Chinese foreign affairs ministry spokesperson on Friday said Beijing is ready to work with Islamabad to move forward the multi-billion China-Pakistan Economic Corridor (CPEC) to benefit the people of the two countries.

"The CPEC is a new cooperation framework set up by China and Pakistan to pursue long-term development. It is also an important project of the Belt and Road Initiative," Chinese FO Spokesperson Hua Chunying said during a press briefing.

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“China stands ready to work with Pakistan to move forward the CPEC so as to benefit the two peoples at an early date,” she said.

Hua Chunying maintained that it was important, not only in promoting common development for China and Pakistan but also in promoting regional connectivity, development and prosperity of regional countries.

In advancing the CPEC, both Pakistan and China had adhered to the principle of extensive consultation, joint contribution and shared benefits, the Chinese official added. She said the dividends and benefits brought by CPEC would be shared by people in China and Pakistan and in the region.

Responding to a question, the spokesperson rejected apprehensions that once the CPEC trade routes officially opened, Pakistan will be flooded with cheap Chinese products, which would make it hard for local Pakistani companies to survive.

At the invitation of the Pakistani military, honour guards of the three services of the Chinese People’s Liberation Army had sent a formation to march in the military parade marking Pakistan Day, she said.

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Hua Chunying added, “In 2015, Pakistan sent a formation to take part in China’s military parade celebrating the 70th anniversary of the victory of the Chinese People’s War of Resistance against Japanese aggression and the World Anti-Fascist War.”

“China and Pakistan are all-weather strategic cooperative partners, and the Chinese and the Pakistani military maintain a traditional friendship,” continued the Chinese spokesperson.

Joining the Pakistani side in its military parade this time was another vivid testament to the epitome of the high-level strategic mutual trust and friendly relations between the two countries and their militaries, the Chinese FO spokesperson added.