China to help Pakistan launch satellite

ISLAMABAD: China said on Friday that it would provide financial assistance to Pakistan for launching its first satellite and a memorandum of understanding in this connection would be signed next week.

Addressing a press conference, Chinese Ambassador Lou Zhaohui said President Asif Ali Zardari and his Chinese counterpart Hu Jintao would meet in New York this month on the sidelines of UN General Assembly.

He said talks between the two leaders would cover bilateral relations as well as regional and international issues. He said that Pakistan’s economy had improved over the last one year and security situation too was improving.

He said China had already given $1 billion to help improve Pakistan’s foreign exchange reserves. — PPI

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