HANGZHOU: Prime Minister Shehbaz Sharif on Sunday urged Chinese companies to relocate industries to Pakistan, enter joint ventures with local firms and take advantage of investor-friendly policies, calling the initiative a “win-win model” for both nations.
Speaking at the Pakistan-China B2B Investment Conference on IT, telecom, battery energy storage systems and agriculture, Sharif said rising labor costs in China had opened opportunities for Pakistan to host industries where China was no longer competitive. He invited Chinese entrepreneurs to bring machinery, partner with Pakistani businesses, manufacture goods and export to other markets.
“This model will be a roaring success in times to come, whether it is textile or leather or other areas,” Sharif said in remarks broadcast on national television.
Sharif highlighted Karachi’s export zone and a new 6,000-acre special economic zone designed to provide modern infrastructure, streamlined business operations and long-term leases on attractive terms. He emphasized Pakistan sought expertise and investment rather than loans or aid.
“It is no coincidence that we are celebrating 75 years of our great friendship between Pakistan and China, along with this third B2B event in a row. Starting from Shenzhen to Beijing, and now in Hangzhou, a city which we are visiting for the first time, we are all deeply… pic.twitter.com/CZHM7nV2zt
— Government of Pakistan (@GovtofPakistan) May 24, 2026
The prime minister also pointed to Pakistan’s mineral wealth and agrarian economy, noting that China imports about $100 billion worth of agricultural products annually. Pakistan’s share is minimal, he said, but with cooperation, the two countries could expand trade by $10 billion within five to seven years.
Sharif said Pakistan had already sent 1,000 students to China for advanced agricultural training and stressed the need for improved seeds, mechanization and higher yields. He added that joint efforts could create jobs in rural areas and foster small and medium-sized enterprises.
The premier praised President Xi Jinping’s leadership, describing Pak-China friendship as “deeper than the deepest ocean and higher than the Himalayas.” He noted that memorandums of understanding worth billions of dollars had been signed, with about 30% already converted into agreements.
Sharif also lauded Hangzhou’s development, crediting Xi’s tenure as provincial leader for transforming the city into one of the fastest-growing in the world.
Other speakers included IT Minister Shaza Fatima Khawaja, Special Assistant to the Prime Minister Haroon Akhtar, and business leaders from both countries. The event concluded with the signing of pacts between Pakistani and Chinese companies.
