Hello, I'm Wang Wen, executive director of Chongyang Institute, Renmin University of China. Thank you very much for inviting me to speak in such an important forum.
Time flies. 70 years passed since the establishment of diplomatic relations between China and Pakistan and the people's Republic of China has found nearly 72 years. It can be said that the process of China's development is accompanied by the process of China-Pakistan relations. We will never forget Pakistan's help and support for China's development.
In China, Pakistanis are called "Ba Tie", which "Ba" means Pakistan, and "Tie" means "iron" or means hard. The nickname "Ba Tie" shows that the relationship between the two countries is unbreakable. In the past 70 years, whether it is the cold war, or the international financial crisis, or regional risks in recent years, as well as the construction of the China Pakistan Economic Corridor, historical practice has proved that no force can destroy and impact the "iron" relationship between China and Pakistan.
As a think tank scholar, I hope Pakistan's friends believe that China is the most sincere force to support Pakistan's development. Last year, because of the COVID-19, the global economy was seriously affected. The total bilateral trade volume between China and Pakistan was 17.49 billion dollars, a year-on-year decrease of 2.7%. China's exports to Pakistan fell by 4.9%; However, China's imports from Pakistan increased by 17.5% year on year.
Since 2014, China has maintained Pakistan's largest source of investment for seven consecutive years, and Pakistan is also China's largest investment destination in South Asia. China's engineering contracting business volume in Pakistan ranks first in South Asia and in the forefront of the world.
By the end of 2020, China has signed a total of 85 billion US dollars of contracted projects in Pakistan, more than 90% of which have been completed, including a large number of ports and hydropower stations. I have been to Gwadar Port, where the development has been very dynamic, I believe that in 10-20 years, it will be a modern city.
As you all know, last week, we just celebrated the 100th anniversary of the Communist Party of China. In the past 100 years, great changes have taken place in China. One hundred years ago, China was bullied by many west powers, and almost went to extinction. In terms of manufacturing, it could not produce a single match.
Now, China is the world's largest country in goods trade, the world's largest manufacturing country, the largest consumer market, the world's second largest economy, and its per capita GDP has exceeded $10,000. I think, the Chinese can make a leap, so can the Pakistanis. I have confidence in Pakistan.
Finally, I hope we can pass the cororavirus crisis as soon as possible. We can talk face to face.Aslo, I hope young Pakistanis can apply for the Silk Road School of Renmin University of China. More importantly, long live the friendship between China and Pakistan. Thank you.