Setback for CPEC? Chinese Company Shuts Factory in Gwadar, Flags ‘Unworkable’ Business Climate in Pakistan

A Chinese company, Hangeng Trade Company, operating in Pakistan’s Gwadar Free Zone, has reportedly shut down its factory and terminated all employees. The company has cited an unworkable business climate and mounting financial losses, reported ANI, citing The Express Tribune. The company said that while its investment was made in the spirit of strengthening China-Pakistan ties and bilateral cooperation, the absence of a clear and workable policy environment made it increasingly difficult to sustain operations, ultimately forcing it to exit.