http://www.atimes.com/atimes/South_Asia/HA21Df03.html "China's interest in the Gwadar project stems from the port's proximity to the Strait of Hormuz. A base at Gwadar enables China to secure the flow of its oil - 60% of its energy supplies come from the Middle East - through the strait. More important, Gwadar is said to be a "listening post" for the Chinese, one that will enable Beijing to monitor movement of US and Indian ships in the region."
Thank you monkeywrench for your excellent assessment.