Chinese President Xi Jinping arrived in Pakistan on Monday to launch projects worth $46 billion, a figure that would far exceed U.S. spending in Pakistan and underscores China's economic ambitions in Asia and beyond.

Xi oversaw agreements on pipelines, power plants and other projects as part of a massive $46 billion joint development programmme that Beijing hopes will stabilise its longtime ally's economy and extend China's influence in western Asia. Pakistan hopes that the investment plan will end a chronic energy crisis and transform it into a regional economic hub.

Preparations began well in advance in Islamabad ahead of the two-day visit by Chinese President Xi Jinping who arrived on Monday. The much anticipated visit is the first by a Chinese president to Pakistan after nine years.