PM arrives in Beijing for crucial talks with Xi, Li as Pakistan secures $1.22b China investment deals

• Premier Shehbaz begins second leg of four-day China visit after high-profile Hangzhou engagements

• Set to hold key meetings with President Xi Jinping and Premier Li Qiang with focus on strengthening CPEC Phase-II and deepening strategic cooperation

• Pakistan, Chinese firms sign MoUs and agreements worth $1.22b as PM says Pakistan aims to boost agri-trade with China by $10b

• Invites Chinese companies to expand investment in EV and renewable energy sectors

• Dar says Pakistan signed over 300 MoUs and joint ventures worth $13b with China

• Alibaba chief Joe Tsai praises PM’s vision for Pakistan’s digital transformation

 HANGZHOU/ISLAMABAD: Prime Minister Shehbaz Sharif on Sunday arrived in Beijing on the second leg of his official visit to China, where he is scheduled to hold high-level engagements with the Chinese leadership, including President Xi Jinping and Premier Li Qiang, to further strengthen “Pakistan-China all-weather strategic cooperative partnership” and advance cooperation under CPEC Phase-II.

Premier Shehbaz had commenced his four-day visit to China on Saturday after landing in Hangzhou, where he spent a packed day engaging with Chinese political and business leadership to promote trade, investment and industrial cooperation.

According to a statement issued by the Prime Minister’s Office (PMO), the prime minister was received in Beijing by Chinese Minister for Environment and Ecology Huang Runqiu.

Prime Minister Muhammad Shehbaz Sharif being received by Mr. Huang Runqiu, Minister of Environment & Ecology of China at Beijing Capital International Airport.#PMShehbazInChina pic.twitter.com/jeBEPjSqJq

— Shehbaz Digital Media (@ShehbazDigital) May 24, 2026

“During his stay in Beijing, the prime minister will hold high-level engagements, including meetings with Chinese President Xi Jinping and Prime Minister Li Qiang to further strengthen Pakistan-China all-weather strategic cooperative partnership and advance cooperation under CPEC Phase-II, particularly in trade, investment, industry, agriculture, science and technology, and people-to-people exchanges,” the PMO said.

Earlier in Hangzhou, PM Shehbaz chaired the opening ceremony of the third Pakistan-China Business-to-Business (B2B) Investment Conference, which focused on charging infrastructure, battery energy storage, solar technologies and pharmaceuticals.

The premier also held meetings with provincial leadership and leading Chinese enterprises, including StarCharge, CATL and Xiuzheng Pharmaceutical, to explore practical avenues of investment and industrial collaboration. He also visited Alibaba Headquarters, where he was received by Alibaba Executive Chairman Joe Tsai.

The PMO, in a separate statement, said Prime Minister Shehbaz witnessed the signing of several memoranda of understanding (MoUs) and cooperation agreements between Pakistani and Chinese companies worth $1.22 billion during the conference.

Prime Minister Muhammad Shehbaz Sharif and Governor Zhejiang Province Mr. Liu Jie witnessing the signing of MoUs and Agreements of cooperation between Pakistani and Chinese companies worth USD 1.22 billion at the Pakistan China Business Conference held in Hangzhou on 24 May 2026. pic.twitter.com/1RE0RorVkX

— Prime Minister's Office (@PakPMO) May 24, 2026

Pakistan eyes $10bn increase in agri-products trade with China

Addressing the Pakistan-China B2B Investment Conference in Hangzhou, Prime Minister Shehbaz Sharif said Pakistan aimed to increase its agricultural products trade with China by $10 billion over the next five to seven years.

The conference brought together government officials and representatives of around 500 Pakistani and Chinese companies to explore investment and trade opportunities between the two countries.

Prime Minister Muhammad Shehbaz Sharif addresses Pakistan China Business Conference on Information Tecnology & Telecom, Battery Energy Storage System (BESS) and Agriculture held in Hangzhou. 24 May, 2026. pic.twitter.com/p1RQuYMf04

— Prime Minister's Office (@PakPMO) May 24, 2026

Highlighting China’s massive annual imports of agricultural products, the premier said Pakistan had the potential to secure a larger share of the Chinese market, boost exports and create employment opportunities.

“In the next five to seven years, we expect to increase our agri-products trade to China by about $10 billion,” PM Shehbaz said.

“And this is not a big task, it can be done. It is possible. But we need your support.”

The prime minister noted that Pakistan had sent 1,000 agricultural graduates to China last year for higher education and specialised training in agriculture and food security.

Calling for accelerated bilateral cooperation, he said around 30 percent of Pakistan-China memorandums of understanding had already been converted into formal agreements.

Prime Minister Muhammad Shehbaz Sharif attends Pakistan China Business Conference on Information Tecnology & Telecom, Battery Energy Storage System (BESS) and Agriculture held in Hangzhou. 24 May, 2026. pic.twitter.com/Hg6dkyyZUq

— Prime Minister's Office (@PakPMO) May 24, 2026

“This is, Alhamdulillah, by the grace of God, a very satisfactory progress,” he said. “But I think we need to move with speed and achieve milestones which are the need of the hour.”

‘Pakistan is open for business,’ says Dar

Deputy Prime Minister and Foreign Minister Ishaq Dar, speaking earlier at the conference, said Pakistan had achieved economic stabilisation over the past four years and was now emerging as an attractive destination for global investors.

“Pakistan is open for business. Pakistan is reforming. Pakistan is rising,” Dar said.

He noted that Pakistan and China had signed more than 300 MoUs and nearly three dozen joint ventures worth over $13 billion.

“These are not merely statistics. They are proof of trust, confidence and shared ambition,” he said.

Later, PM Shehbaz visited the headquarters of Alibaba Group and met Executive Chairman Joe Tsai.

Prime Minister Muhammad Shehbaz Sharif visited the headquarters of Alibaba Group in Hangzhou today, where he was warmly received by Chairman Joe Tsai. Senior ministers and officials of the Government of Pakistan and top executives of Alibaba Group were also present.

During the… pic.twitter.com/GV6TIegtke

— Government of Pakistan (@GovtofPakistan) May 24, 2026

According to the prime minister’s spokesperson for international media, Mosharraf Zaidi, Tsai remarked that the premier’s presentation on Pakistan’s digital transformation was “the most powerful case for digitalisation” he had heard.

The Pakistani premier also oversaw the signing of multiple cooperation documents, including a memorandum establishing a sister-province relationship between Punjab and Zhejiang, as well as an agreement paving the way for the establishment of a China-Pakistan Joint Technology Research Center at Hangzhou Normal University.

President Xiuzheng Pharmaceuticals Group, Mr. Xin Yuan calls on Prime Minister Muhammad Shehbaz Sharif in Hangzhou. 24 May 2026. pic.twitter.com/wXh7UjPQsq

— Prime Minister's Office (@PakPMO) May 24, 2026

China remains Pakistan’s key strategic ally and one of its largest investors, with Beijing pledging more than $60 billion under the China-Pakistan Economic Corridor (CPEC), a flagship infrastructure and energy initiative linking Gwadar Port with China’s Xinjiang region.

PM invites Chinese firms to expand investment in Pakistan

Prime Minister Shehbaz Sharif also invited leading Chinese companies to expand investment in Pakistan’s renewable energy and electric vehicle sectors during meetings with corporate executives in Hangzhou.

According to the PMO, discussions focused on renewable energy, energy storage, solar-linked technologies, electric vehicle charging infrastructure, smart mobility systems and pharmaceutical manufacturing.

The premier and representatives of major Chinese firms discussed possibilities for increasing investment, establishing manufacturing facilities and expanding existing operations in Pakistan.

Agnes Siu, CEO Sheng Huo Neng Yuan Ke Ji Company Hong Kong calls on Prime Minister Muhammad Shehbaz Sharif in Hangzhou. 24 May, 2026. pic.twitter.com/MOGykxrCDH

— Prime Minister's Office (@PakPMO) May 24, 2026

“The prime minister highlighted the policies of the government for ease of doing business in Pakistan and shed light on the investment-centric steps taken by the government,” the PMO said.

“He emphasised the importance of business-to-business cooperation between Pakistani and Chinese companies to further strengthen the existing fraternal ties between Pakistan and China.”

Hangzhou: 24 May 2026.

Prime Minister Muhammad Shehbaz Sharif, who is currently on an official visit to China, met with senior Chinese corporate executives representing a number of important companies in Hangzhou today.

As part of his outreach to China’s corporate sector, the… pic.twitter.com/F6Hjkgyrh6

— Prime Minister's Office (@PakPMO) May 24, 2026

Pakistan, currently supported by a $7 billion International Monetary Fund (IMF) programme, is offering investors attractive incentives, a strategic geographic location connecting South Asia, Central Asia and the Middle East, and access to a consumer market of over 240 million people.

The visit comes as Pakistan and China celebrate 75 years of diplomatic relations, with both countries seeking to deepen economic, technological and strategic cooperation across multiple sectors.