Abstract
To realize the vision of common prosperity of mankind, President Xi Jinping‟s initiative on strategic vision of “One Belt One Road” or Silk Road Economic Belt and 21st Century Maritime Silk Road, are indeed manifestations of “Great Chinese Dream” of regional connectivity and enhanced economic integration which prevailed in the past and have to be revitalized for eventual benefit of relevant countries, the region and the world at large. Pakistan-China relations have special significance; therefore, Pakistan has been integrated in the esteemed project of “One Belt and One Road” through CPEC. This paper outlines the contours of Pakistan-China Economic Corridor (CPEC), its strategic significance as part of “One Belt and One Road” vision and its paybacks to China, Pakistan and the region. Certain questions have also been put across for accruing the opportunities it offers to China and Pakistan. The paper also highlights various challenges being faced by both China and Pakistan in executing the vision and proposes way forward.