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ISLAMABAD, Oct. 15 (Xinhua) -- China and Pakistan agreed on Monday to build closer ties and facilitate the construction of the China-Pakistan Economic Corridor (CPEC).

The initiative, he said, will also bring development in the education sector because of the vocational trainings program, adding that China will be able to impart into Africans its technological and innovation advancement.

"China does encourage more exchanges with foreign companies, and also it is very open for business. And that kind of spirit is something we DIHK of course very much support," Koenig added.

The first part of the code, General Provisions of the Civil Law, was adopted on March 15 last year and entered into force on Oct. 1.

"As a responsible country, China has reiterated time and again that it will not engage in competitive devaluation and will not use the RMB exchange rate as a tool to fend off external disturbances, such as trade disputes."