PM Shehbaz Sharif leads a high-level corporate delegation to China, witnessing the signing of multiple business-to-business agreements. The deals covered artificial intelligence, green energy, and the agriculture sectors.
Pakistani and Chinese companies signed multiple commercial agreements and MoUs worth over $7 billion during a business conference in Hangzhou on Sunday.
According to the PM’s Office, the contracts were completed during the third Pakistan-China Business-to-Business Investment Conference. It targeted IT, battery energy storage systems, and industrial sectors.
PM Shehbaz Sharif urged Chinese manufacturers to relocate their production units to Pakistan. He promised long-term land leases and red-carpet treatment within a planned 6,000-acre special economic zone in Karachi.
Major Industrial and Agricultural Contracts
- Haolu Engineering and Technology Company signed a 1.12-billion-dollar agreement with Fauji Fertilizer Company to expand local fertilizer production.
- IBI Beijing United Information Technology signed a 100-million-dollar deal with the Rice Research Institute to establish a regional agricultural machinery center in Multan.
According to conference organizers, these new deals bring the total value of MoUs signed across recent bilateral business events to 20 billion dollars. Government data confirms that nearly 30% of those initial proposals have successfully converted into legally binding, active projects.
Strategic Digital Transformation Partnership
The government of Pakistan also signed a comprehensive digital framework agreement with Alibaba Group at its global headquarters. Alibaba Chairman Joe Tsai stated that the company will expand its local investments into cloud data centers, smart logistics, and medical technology under China’s Belt and Road Initiative.
Ignite National Technology Fund and Alibaba Cloud will collaborate to build artificial intelligence foundation models for the Urdu language. This initiative will fund cloud skills certifications for 500,000 Pakistanis.
Additionally, Alibaba.com partnered with the SMEDA to launch a dedicated Pakistan Pavilion. It is an e commerce gateway that will connect 2,000 local businesses with international buyers.
In the healthcare sector,
- DAMO Academy and Sky47 agreed to deploy AI-powered disease screening systems across major Pakistani cities.
- DAMO Academy and Ignite will collaborate on embodied intelligence and technology capacity-building programs at Pakistani universities.
Meanwhile, in the financial technology sector, Koko Tech agreed to introduce a Buy Now, Pay Later solution in Pakistan.
