Pakistani and Chinese companies signed agreements and memorandums of understanding worth more than $7 billion at a business-to-business investment conference in Hangzhou, China, where Prime Minister Shehbaz Sharif invited Chinese firms to relocate industries to Pakistan and expand partnerships with local businesses.
The agreements were signed during the Pakistan-China B2B Investment Conference, which focused on information technology and telecom, battery energy storage systems, and agriculture.
Addressing the conference, Prime Minister Shehbaz said Pakistan was offering Chinese investors a favorable opportunity to relocate industries facing higher labour costs in China and enter into joint ventures with Pakistani companies for manufacturing and exports to third-country markets.
He described the proposed model as a win-win arrangement for both sides and said Pakistan wanted investment, expertise, and experience from China to support industrial growth rather than relying on loans or aid.
The prime minister also invited Chinese businesses to explore opportunities in Karachi’s export zone as well as in Pakistan’s mining, minerals, and agriculture sectors.
On agriculture, he said Pakistan had strong potential to improve output through better seeds, mechanisation, and modern farming practices. He noted that China imports about $100 billion worth of agricultural products annually, while Pakistan’s share remains very small, adding that both countries could work together to increase Pakistan’s agricultural exports to China by up to $10 billion over the next five to seven years.
He also highlighted the potential of information technology, artificial intelligence, and special economic zones, saying Pakistan had established a more than 6,000-acre special economic zone in Karachi to attract joint Chinese and Pakistani investment.
During the conference, a $1.12 billion agreement was signed between Haolu Engineering and Technology Company Limited and Fauji Fertilizer for fertilizer production. Another $100 million memorandum of understanding was signed between IBI Beijing United Information Technology Company and RIC for agrochemicals, agricultural machinery, and the establishment of a regional office in Multan.
Officials said more than 200 memorandums of understanding worth over $20 billion have so far been signed during five Pakistan-China business-to-business conferences.
On the sidelines of the visit, Prime Minister Shehbaz also met executives from several major Chinese companies, including CATL, StarCharge, Xiuzheng Pharmaceutical Group, and Sheng Huo Neng Yuan Ke Ji Company, where discussions focused on expanding investment, setting up manufacturing facilities, and growing existing operations in Pakistan.
He also attended a ceremony for the signing and exchange of agreements and memorandums of understanding with Alibaba Group in multiple sectors. During his visit to Alibaba’s headquarters in Hangzhou, the prime minister was briefed by Chairman Joe Tsai, and a long-term cooperation agreement between Pakistan and Alibaba was signed in his presence.
According to details shared during the visit, cooperation with Alibaba is expected to cover cloud computing, data centres, artificial intelligence, trade facilitation, global market access, financial technology, financial literacy, healthcare, smart hospitals, telemedicine, pharmaceuticals, and agriculture.
Prime Minister Shehbaz later arrived in Beijing after concluding his engagements in Hangzhou, where he also chaired the opening session of the third Pakistan-China B2B Investment Conference and held meetings with provincial leaders and corporate executives.
