Shehbaz Sharif on Sunday invited Chinese companies to relocate industries and establish joint ventures in Pakistan as businesses from both countries signed agreements and memorandums of understanding worth more than $7 billion during an investment conference in Hangzhou.
The agreements covered sectors including information technology, telecom, battery energy storage systems, renewable energy, agriculture and manufacturing.
Addressing the Pakistan-China B2B Investment Conference, Sharif described the proposed industrial relocation model as a “win-win model” for both countries.
He said rising labour costs in China created opportunities for industries that were no longer globally competitive there to move production facilities to Pakistan.
“This model will be a win-win model for Chinese and Pakistani entrepreneurs, and this will be something of a roaring success in times to come, whether it is textile or leather or other areas,” Sharif said.
The prime minister also invited Chinese investors to explore a new export processing zone in Karachi spread across more than 6,000 acres.
According to Sharif, the zone will offer modern infrastructure, one-window operations and long-term land leases on attractive terms.
PM pitches agriculture, IT and energy cooperation
Sharif said Pakistan wanted expertise, investment and technology transfer rather than foreign aid or loans.
“We are looking for expertise, experience, investments and not loans, not aid, not handouts,” he told participants.
The prime minister highlighted agriculture as a major area for cooperation, noting that China imports nearly $100 billion worth of agricultural products annually while Pakistan’s share remained minimal.
He said Islamabad hoped to increase agricultural exports to China by around $10 billion over the next five to seven years.
Sharif also pointed to Pakistan’s growing youth population and expanding IT sector as major advantages for investors.
He said thousands of Pakistani students and professionals were receiving advanced training and international certifications to support future digital growth.
The conference formed part of a broader effort to deepen economic ties between Pakistan and China during celebrations marking 75 years of diplomatic relations between the two countries.
Sharif described ties with Beijing as “deeper than the deepest ocean and higher than the Himalayas.”
Chinese firms discuss renewable energy and EV investments
During the visit, the prime minister also met executives from several major Chinese corporations, including CATL, StarCharge and Xiuzheng Pharmaceutical Group.
Talks focused on battery storage systems, electric vehicle charging infrastructure, solar energy and pharmaceutical manufacturing.
Meetings additionally covered plans for manufacturing facilities and expansion of existing Chinese business operations in Pakistan.
Sharif stressed the importance of business-to-business partnerships to strengthen long-term economic cooperation under evolving regional trade and industrial strategies.
The prime minister later witnessed the signing of several agreements between Pakistani and Chinese companies.
Officials from both countries said the agreements reflected growing investor confidence and expanding economic cooperation across strategic sectors.
