Prime Minister Shehbaz Sharif arrived in Beijing on Sunday to engage in high-level discussions with Chinese President Xi Jinping and Premier Li Qiang during his four-day official visit to China. The premier had initially landed in Hangzhou on Saturday, where he delivered a keynote address at the Pakistan-China Business-to-Business Investment Conference before proceeding to the Chinese capital.
Upon his arrival in Beijing, Shehbaz Sharif was welcomed by Huang Runqiu, the Chinese Minister for Environment and Ecology. During his stay, the prime minister is scheduled to hold several important meetings aimed at further strengthening the Pakistan-China All-Weather Strategic Cooperative Partnership. These talks will focus on advancing collaboration under the China-Pakistan Economic Corridor (CPEC) Phase-II, particularly in sectors such as trade, investment, industry, agriculture, science and technology, and people-to-people exchanges.
This visit coincides with the 75th anniversary of diplomatic relations between Pakistan and China, marking a significant milestone in their bilateral ties. In Hangzhou, the prime minister chaired the opening ceremony of the third Pakistan-China B2B Investment Conference, which highlighted opportunities in charging infrastructure, battery energy storage, solar technologies, and pharmaceuticals. He also met with provincial officials and leading Chinese companies including StarCharge, CATL, and Xiuzheng Pharmaceutical to explore avenues for practical investment and industrial cooperation.
Discussions with CATL centered on collaboration in advanced battery technologies, energy storage, and solar-linked solutions to support Pakistan’s transition to clean energy. Additionally, the prime minister visited Alibaba’s headquarters, where he was received by Executive Chairman Joe Tsai.
During the conference, several memoranda of understanding (MoUs) and cooperation agreements between Pakistani and Chinese firms were signed, collectively valued at $1.22 billion. Addressing the gathering, Shehbaz Sharif noted that rising labor costs in China have prompted industries to seek new locations. He proposed that sectors where China is less competitive due to expensive labor could relocate to Pakistan, bringing machinery and forming joint ventures with Pakistani entrepreneurs to manufacture goods for export to third countries. He described this as a mutually beneficial model with great potential in textiles, leather, and other industries.
The prime minister also invited Chinese investors to visit the export zone in Karachi to explore business opportunities. Highlighting Pakistan’s rich mineral and gemstone deposits, he emphasized the country’s potential in mining. Regarding agriculture, he described Pakistan as primarily an agrarian economy and mentioned that last year, 1,000 Pakistani youths received advanced training in China and have since contributed positively. He stressed the need for enhanced cooperation in agriculture, noting China’s $100 billion annual agricultural imports, of which Pakistan currently holds only a small share.
Shehbaz Sharif expressed optimism that joint efforts could improve the quality and production of agricultural products, creating significant employment in rural Pakistan and fostering the growth of small and medium enterprises. He projected that agricultural trade with China could increase by $10 billion over the next five to seven years, a goal he deemed achievable.
The prime minister also spoke about a special economic zone featuring modern infrastructure, a streamlined business environment, and a one-window operation offering preferential treatment to Chinese investors. He extended an invitation to Chinese businesses to acquire land on long-term leases to facilitate investment.
Highlighting progress, he mentioned that MoUs worth billions of dollars had been signed in Shenzhen and Hangzhou, with about 30% already converted into formal agreements, representing substantial financial commitments. This development reflects growing confidence in the Pakistan-China partnership and the potential for expanded economic cooperation.
