HBL sees opportunities connected with CPEC in Xinjiang

Habib Bank, one of the largest private banks in Pakistan which opened its branch in Urumqi, is eyeing opportunities connected with the China-Pakistan Economic Corridor (CPEC), a key component of the Belt and Road Initiative.
Xinjiang is the starting point of the CPEC, which links the region with the Gwadar port in Pakistan.

The CPEC is estimated to draw infrastructure investment of $45 billion. “We have always been very active on the frontlines of the CPEC,” a top bank official said on Tuesday.
Bank of Beijing has also established its branch last week in Urumqi, the capital of Xinjiang.
According to experts, domestic and foreign financial institutions have been pouring into Northwest China’s Xinjiang Uyghur Autonomous Region in recent months, looking for opportunities under China’s “One Belt, One Road” (B&R) initiative.—APP

Published in Pakistan Observer, April 03rd,2017