Pakistan, Chinese firms sign $7B investment deals during Sharif's Hangzhou visit

Pakistan and Chinese companies signed agreements and memorandums of understanding worth more than $7 billion on Sunday in Hangzhou, covering sectors from information technology and agriculture to energy storage and manufacturing. Prime Minister Shehbaz Sharif, attending the Pakistan-China Business-to-Business Investment Conference, urged Chinese investors to deepen their presence in Pakistan.

What investment deals did Pakistan and China sign in Hangzhou?

Companies from both countries signed agreements worth over $7 billion at the conference in Hangzhou. The deals spanned information technology, battery energy storage, agriculture, special economic zones and mining. A highlight was a $1.12 billion fertilizer production deal between Haolo Engineering and Technology Co. Ltd. and Fauji Fertilizer Company, signed in the presence of Sharif and Zhejiang Governor Liu Jie.

What did PM Shehbaz Sharif say at the Pakistan-China investment conference?

Sharif told the conference that Pakistan wanted "expertise and investment, not loans or aid." He called for faster implementation of agreements already signed, saying around 30% of previously signed MoUs had already materialized into projects worth several billion dollars. He urged both sides to move quickly to convert memorandums of understanding into active projects.

Another agreement worth $100 million was signed between IBI Beijing United Information Technology Company and RIC, covering cooperation in agrochemicals, agricultural machinery and the establishment of a regional office in Multan. Officials said more than 200 MoUs and agreements worth over $20 billion had been signed across five Pakistan-China business conferences held to date.

Which sectors did Pakistan identify as priorities for Chinese investment?

Sharif identified agriculture, information technology, special economic zones, and mining and minerals as the four priority sectors for bilateral cooperation. He said Pakistan could raise its agricultural exports to China from their current level to as much as $10 billion within five to seven years, given that China imports nearly $100 billion worth of agricultural products annually.

Sharif also invited Chinese investors to a special economic zone being developed in Karachi across more than 6,000 acres, offering long-term land leases and one-window business facilitation. He said rising labor costs in China created an opening for Chinese manufacturers to relocate operations to Pakistan through joint ventures, particularly in textiles, leather and other export-oriented industries.

Which Chinese companies did Sharif meet separately during the China visit?

On the sidelines of the conference, Sharif met executives from CATL, StarCharge and Xiuzheng Pharmaceutical Group. Discussions covered renewable energy, advanced battery systems, electric vehicle charging infrastructure, pharmaceutical manufacturing and healthcare investment in Pakistan. Sharif said Pakistan's investment-friendly policies and stronger business-to-business ties could significantly deepen economic relations between the two countries.