A Regional Hub and Pivot For Commerce and Investment
The belt will run from, the last habitation before the Iranian border. It requires the visa-free tourism for Chinese nationals to Pakistan.
FOR THE FIRST TIME, the plan to build CPEC has been revealed by Pakistani and Chinese concerned people. The Long Term Plan (LTP) was started in November 2013. It was the year when the National Development and Reform Commission (NDRC) of the Government of China asked the China Development Bank (CDB) to constitute a detailed roadmap to guide the engagement with Pakistan that had started in May of that same year. With teams from the NDRC, as well the ministries of Transport, National Energy Administration and China Tourism Planning Institute, the China Development Bank worked to develop a detailed plan to be implemented over the next 15 years, till the year 2030, that will open the doors for Chinese enterprises – private and public – to enter every area of Pakistan’s economy.
The China-Pakistan Economic Corridor is network of roads to be constructed between Pakistan and China which can stretch as long as 3,000-kilometer between Pakistan and China. The economic corridor has been designed to connect Gawadar Port to Kashgar city, northwestern China's Xinjiang Uygur region through a network of roads, railways and pipelines to transport oil and gas from Gawadar Port to Kashgar city. It also involves up-gradation of the 1,300-km Karakoram Highway, the highest paved international road in the world which connects China and Pakistan across the Karakoram Mountains. Each year, China imports oil and gas from Africa and the Middle East through a long passage. The CPEC will cut down China's routes by thousands of kilometers, making Gawadar a main link in China's supply chain. Initial budgetary estimates suggest that it would involve the investment of US dollar amounting 46 billion by China to develop about 3000 Kilometers long corridors consisting of highways, railways and pipelines connecting China’s Xinjiang province to the rest of the world through Pakistan. China-Pakistan Economic Corridor (CPEC) is part of the economic, social and investment development plan of Pakistan. It is an initiative comprising multifaceted activities that would stimulate economic development in Pakistan and the region by creating opportunities for trade, commerce, industry, employment and enhance linkages of Pakistan with China and Central Asian states.