China is building a city for 5,00,000 Chinese nationals only at a cost of $150 million in Gwadar as part of China-Pakistan Economic Corridor (CPECNSE 0.00 %). This will be the first such Chinese city in South Asia.
ET has learnt that the China-Pak Investment Corporation bought the 3.6-million square foot International Port City and will build a $150-million gated community for the anticipated 5,00,000 Chinese professionals who will be located by 2022 and work in its proposed new financial district in Gwadar.
China has such complexes or subcity for its nationals who are part of the workforce for projects in Africa and Central Asia. There are allegations that Chinese have also moved to acquire territory in eastern Russia and northern part of Myanmar, and such exclusive zones for Chinese citizens are also giving rise to considerable local resentment.
Beijing has invested in Pakistan’s pipelines, railways, highways, power plants, industrial areas and mobile networks to advance the geographical mid-way link for BRI.
In return, Chinese inland manufacturing cities have secured better links to shipping lanes and newly made free trade zones through railways, port renovation and blockchain technology.
Of the 39 proposed CPEC projects, 19 are either already completed or underway, with China spending over $18.5 billion since 2015.