A Chinese firm has officially taken control of Pakistan's Gwadar Port free-trade zone.
Under the agreement, China Overseas Holdings Limited will manage the free-trade zone on a 43-year lease.
The formal handover signals the Chinese side's control of all the port's business affairs.
Gwadar port is a deep sea port that sits next to the Strait of Hormuz, the key oil route in and out of the Persian Gulf.
As part of the China-Pakistan Economic Corridor scheme, China plans to make Gwadar a transportation hub by building a 3,000km railway linking Xinjiang, in western China, with Gwadar.
For more on the handover of Gwadar Port, CRI's Tu Yun earlier spoke with Babu Gulab, Chairman of Gwadar District Council.
