Beijing (Web Desk): Prime Minister Shehbaz Sharif arrived in Beijing on Sunday for a four-day official visit focused on strengthening bilateral ties and expanding economic cooperation between Pakistan and China.
Before reaching Beijing, the prime minister had visited Hangzhou, where he attended and addressed the Pakistan-China Business-to-Business Investment Conference. After landing in the Chinese capital, he was welcomed by China’s Minister for Environment and Ecology, Huang Runqiu.
According to the Prime Minister’s Office, Shehbaz Sharif is scheduled to hold important meetings with Chinese President Xi Jinping and Premier Li Qiang. The discussions are expected to cover a wide range of areas, including trade, investment, agriculture, technology, industrial development and cultural exchanges under the second phase of the China-Pakistan Economic Corridor (CPEC).
The visit also comes during the 75th year of diplomatic relations between the two countries.
During his engagements in Hangzhou, the prime minister inaugurated the third Pakistan-China B2B Investment Conference, where discussions revolved around electric vehicle charging systems, battery storage, solar energy and pharmaceutical cooperation.
He also met representatives of major Chinese companies such as StarCharge, CATL and Xiuzheng Pharmaceutical to explore new investment opportunities and industrial partnerships.
Talks with CATL mainly focused on collaboration in battery technology, solar-powered systems and energy storage solutions aimed at supporting Pakistan’s shift towards cleaner energy sources.
Shehbaz Sharif additionally visited Alibaba headquarters and met the company’s Executive Chairman Joe Tsai.
The PM Office stated that several memorandums of understanding and cooperation agreements worth around $1.22 billion were signed between Pakistani and Chinese firms during the conference.
Speaking at the event, the prime minister said rising labour costs in China had created opportunities for industries to relocate manufacturing operations to Pakistan through joint ventures with local businesses.
He said Chinese companies could establish factories in Pakistan, use local partnerships and export products to international markets, calling it a beneficial arrangement for both sides.
“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,” he said.
The prime minister invited Chinese investors to visit Karachi’s export zone, saying it offered strong potential for business expansion and investment.
He also highlighted Pakistan’s mineral resources, including gemstones and other valuable deposits, describing the sector as highly promising for future cooperation.
Talking about agriculture, Shehbaz Sharif noted that Pakistan remained an agriculture-based economy and mentioned that 1,000 Pakistani students had recently completed advanced agricultural training in China.
He pointed out that China imports nearly $100 billion worth of agricultural products every year, while Pakistan’s contribution remains very small, stressing the need to improve cooperation in the sector.
The premier expressed confidence that joint efforts could help Pakistan produce agricultural goods according to Chinese market standards while creating employment opportunities in rural areas and supporting small and medium-sized businesses.
He said Pakistan hoped to increase agricultural exports to China by nearly $10 billion within the next five to seven years.
The prime minister also said the proposed special economic zone for Chinese investors would feature modern facilities, smooth business operations and one-window services.
“I would like to offer this opportunity to all of you to come forward, and we are going to offer land to you on a long-term basis in terms of lease,” he added.
Shehbaz Sharif further said that agreements worth billions of dollars had already been signed during meetings in Shenzhen and Hangzhou, adding that efforts were now focused on turning those memorandums into practical agreements.
He welcomed the progress made so far, noting that around 30 per cent of the MoUs had already been converted into formal agreements valued in billions of dollars.