Introduction to China
China and Pakistan have enjoyed a secure and jointly beneficial relationship. Pakistan was one of the first countries to recognize the People's Republic of China in 1950. Pakistan and China have immense reservoir of goodwill and soft power. The legendary friendship between these 2 countries is palpable in the Pakistani and Chinese community and in the majestic halls of governments. Since long, China and Pakistan have witnessed flat development of friendly and neighborly relations as well as mutually beneficial cooperation.
Over the years, the unique friendship between Pakistan and China has transformed into a strong strategic partnership, robust economic cooperation and ever increasing people to people contacts. This relationship is based on trust, understanding and common aspirations for peace and progress. In 2007 Pakistan and China signed a free trade agreement.
China is the world's third largest economy after the European Union and United States with a GDP of over $9.872 trillion (2010) when measured on purchasing power parity (PPP) basis. China is the fastest growing major economy in the world, total imports were US$ 1.394 trillion in 2010. China’s major importing partners were Japan, Korea, Taiwan, Hong Kong, USA, and Germany.
Pakistan exports to China increased from US$ 0.7 billion in 2008-09 to US$ 1.153 billion in 2009-10 showing a growth of 64.59%. China is 4th largest export market of Pakistan. Pakistan’s share in China’s import is negligible. Main products being exported to China are Cotton Yarn, Cotton Fabric, Leather Tanned and Fish & Fish Preparations.