ISLAMABAD: Pakistani and Chinese companies signed agreements and memorandums of understanding (MoUs) valued at more than $7 billion during a business conference held in Hangzhou on Sunday, aimed at strengthening bilateral cooperation and boosting investment across various sectors.
The agreements and MoUs were signed during the Pakistan-China B2B Investment Conference on information technology and telecommunications, battery energy storage systems (BESS), and agriculture, state news agency APP reported.
Prime Minister Shehbaz Sharif attended the Pakistan-China Business Conference in Hangzhou, where companies from both countries signed agreements aimed at strengthening bilateral economic cooperation.
وزیرِ اعظم محمد شہباز شریف نے ہانگژو میں منعقدہ پاکستان چائنہ بزنس کانفرنس میں شرکت کی. کانفرنس میں پاکستان اور چین کی کمپنیوں نے مختلف شعبوں میں تعاون اور سرمایہ کاری کے فروغ کے لئے 7ارب ڈالر سے زائد کے معاہدوں اور مفاہمت کی یادداشتوں پر دستخط کر دیئے ہیں.
وزیرِ اعظم محمد… pic.twitter.com/Rj4IMCMNWh
— Prime Minister’s Office (@PakPMO) May 24, 2026
Addressing the conference, the prime minister encouraged Chinese investors to invest in Pakistan and launch joint ventures in sectors such as agriculture, information technology, special economic zones, and mining and minerals.
“Pakistan needs skills and investment, not loans and aid,” PM Shehbaz said, adding that it was the need of the hour to convert the MoUs worth billions of dollars between the two countries into formal agreements.
The premier said attractive facilities would be provided to investors in the special economic zone in Karachi and highlighted opportunities in modern agricultural methods and mechanised farming.
“China can export agricultural products worth up to $10 billion; Pakistan has large reserves of minerals,” he said.
Prime Minister Muhammad Shehbaz Sharif and Governor Zhejiang Province Mr. Liu Jie witnessing the signing of MoUs and Agreements of cooperation between Pakistani and Chinese companies worth USD 1.22 billion at the Pakistan China Business Conference held in Hangzhou on 24 May 2026. pic.twitter.com/1RE0RorVkX
— Prime Minister’s Office (@PakPMO) May 24, 2026
PM Shehbaz also praised Chinese President Xi Jinping, saying he had transformed China into a global-standard economic and military power.
The prime minister also invited the Chinese companies and entrepreneurs to relocate their industries and businesses to Pakistan, enter into joint ventures with the local firms, and benefit from the country’s investor-friendly policies, describing the initiative as a “win-win model” for both nations.
“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,” the prime minister maintained in his speech broadcast on national TV channels.
The prime minister further said that it was no coincidence that they were celebrating 75 years of the great friendship between Pakistan and China, and this third B2B event in a row, starting from Shenzhen to Beijing and now here in Hangzhou, was a reflection of the same.
