Pakistan-China Agreements: On May 24, 2026, Pakistani and Chinese firms finalized agreements worth over $7 billion in Hangzhou, China, during a high-level event led by Prime Minister Shehbaz Sharif. The deals aim to enhance technological and industrial cooperation between the two nations.
Pakistan-China Agreements During B2B Conference
The Pakistan-China Business-to-Business Investment Conference served as the backdrop for the signing of these agreements, which target sectors such as information technology, telecom, battery energy storage systems, renewable energy, and agriculture.
Prime Minister Sharif encouraged Chinese companies to relocate industries to Pakistan, leveraging the country’s lower labor costs and strategic location for export. He emphasized opportunities in textiles, leather, and industrial production, inviting Chinese investors to explore Pakistan’s special economic zones, including a major zone planned in Karachi.
Key agreements included a $1.12 billion deal between Haolu Engineering and Technology Company and Fauji Fertilizer, and a $100 million MoU between IBI Beijing United Information Technology and RIC for agrochemical collaboration.
The conference, attended by officials such as Deputy Prime Minister Ishaq Dar and Zhejiang Governor Liu Jie, highlighted Pakistan’s agricultural potential and the need for mechanization and advanced farming practices.
Further engagements in Hangzhou included strategic partnerships with Alibaba Group, aiming to accelerate Pakistan’s digital transformation through initiatives in AI, cloud computing, and e-commerce. The Alibaba partnership is part of China’s Belt and Road Initiative, seeking to expand cooperation in cloud infrastructure and smart technology.
Prime Minister Sharif’s visit underscores Pakistan’s commitment to productive economic partnerships with China, moving beyond aid to sustainable development.
Published in SouthAsianDesk, May 25, 2026
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