(Yicai Global) Dec. 8 -- China has denied reports suggesting Beijing "requires full ownership of the Diamer-Bhasha Dam project in Pakistan and its right of operation as well as another hydropower station in the country as collateral." China and Pakistan are maintaining contacts for cooperation on the dam project, said a senior official of China's top macroeconomic planner National Development and Reform Commission (NDRC) yesterday, but ruled out any ownership demand on China's part.

The NDRC official reminded that the project has not been included in the list of energy projects under the China-Pakistan Economic Corridor (CPEC) and that both countries have not even conducted any exchanges on possible development plan of the dam.

The Pakistani media run some inaccurate reports on the Diamer-Bhasha Dam project, or the reports only represent the positions of some individual Pakistani officials, said the NDRC official.

Pakistan was urged to reconsider its decision because of China's request for ownership of the project, Muzammil Hussain, chairman of the Pakistani Water & Power Development Authority, was quoted by the Pakistani media as saying last month. In addition to requiring the ownership of the Diamer-Bhasha Dam, China also requires using another dam in operation as collateral to secure the operation and maintenance costs for this project, Hussain said, according to the reports.