Pakistani and Chinese companies signed agreements and memorandums of understanding worth more than $7 billion during a business-to-business investment conference in Hangzhou, China, as Prime Minister Shehbaz Sharif invited Chinese firms to relocate industries to Pakistan and expand joint ventures with local companies.
The agreements were signed at 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 Chinese companies could shift industries where rising labour costs had reduced competitiveness and partner with Pakistani firms to manufacture goods for export to third countries. He described the model as a win-win opportunity for both sides and said Pakistan was offering investor-friendly policies to support such ventures.
He also invited Chinese investors to explore opportunities in Karachi’s export zone, as well as in Pakistan’s mining, minerals, and agriculture sectors.
The prime minister said Pakistan wanted expertise, experience, and investment from China rather than loans or aid, adding that stronger industrial cooperation could help create jobs, boost exports, and support long-term economic growth.
On agriculture, he said Pakistan had significant room to improve productivity through better seeds, mechanisation, and advanced farming practices. He noted that China imports around $100 billion worth of agricultural products annually, while Pakistan’s share remains minimal, and said both countries could work together to raise Pakistan’s agri exports to China by as much as $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 new special economic zone in Karachi spread over more than 6,000 acres to attract joint investment from Chinese and Pakistani businesses.
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 had been signed so far during five Pakistan-China business-to-business conferences.
On the sidelines of the visit, Prime Minister Shehbaz also met senior executives of major Chinese firms, including Sheng Huo Neng Yuan Ke Ji Company, CATL, StarCharge, and Xiuzheng Pharmaceutical Group, where discussions focused on increasing investment, setting up manufacturing facilities, and expanding existing operations in Pakistan.
The prime minister 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, he was briefed by Chairman Joe Tsai, while a long-term cooperation agreement between Pakistan and Alibaba was signed in his presence.
According to Alibaba, the cooperation with Pakistan 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 had also chaired the opening ceremony of the third Pakistan-China B2B Investment Conference and held meetings with provincial leaders and executives of leading Chinese companies.
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