Accords worth $8.5bn signed during PM’s China visit

• Premier meets his counterpart, pledges close coordination on CPEC 2.0
• Reiterates commitment to protecting Chinese citizens, promises ‘no red tape’ for investors
• Terms skilled workforce a ‘comparative advantage’

ISLAMABAD: Pakistan and China on Thursday vowed to further cement bilateral trade and strategic ties, as both sides inked 21 different MoUs and joint ventures worth around $8.5 billion, besides formally launching the second phase of the China-Pakis­tan Economic Corridor (CPEC) project.

The MoUs were signed between the two countries with regard to cooperation in the development of CPEC 2.0, science and technology, IT, media, investment, agriculture, etc.

On the last day of his visit to China, PM Shehbaz Sharif met his counterpart, Premier Li Qiang, and attended an investors’ conference.

According to the PM Office, PM Shehbaz and his Chinese counterpart reaffirmed to work together in a meeting that the former termed “most productive”.

“Both sides also agreed to continue working closely on the next phase of upgraded CPEC 2.0, with its five new corridors,” an official statement said.

During the meeting, the prime minister highlighted the “significant contribution” of the CPEC to Pakistan’s socio-economic development in the past decade. He also stressed the need for early implementation of the Main Line-1 (ML-1) railway project, the Karakoram Highway realignment and operationalisation of the Gw­­adar Port.

“I also invited Chinese companies to enhance their investment footprint in Pakistan,” the PM wrote on X, adding that the leaders’ agreement on adv­ancing cooperation in information technology, agriculture, minerals, textiles and industry.

PM Shehbaz also shared Pakistan’s intent to float Panda Bonds, a type of debt security issued by foreign entities denominated in Chinese yuan (RMB), in the Chinese capital market soon.

He later met Chinese Min­ister for Information Techn­ology and Industry Li Lecheng and reiterated Pakistan’s vision of deepening bilateral cooperation with China in industries, agriculture, trade, ICT, mining and minerals.

Investors’ conference

Both countries have also agreed to deepen security and defence cooperation, and will work together to crack down on terrorism, the Xinhua news agency reported, citing a joint action plan agreed by the two countries.

PM Shehbaz later termed the security of Chinese businesses “paramount” to Pakistan, inviting investment into the country under the banner of CPEC-2.0.

Addressing Chinese business leaders at the Pak-China B2B conference, PM Shehbaz said, “I want to make it clear before this assembly of great leaders that the security of Chinese brothers and sisters in Pakistan is paramount for all of us.”

He invited them to “come forward and change the landscape of progress and welfare” for both China and Pakistan.

Noting delays in the formal launch of CPEC-2.0, PM Shehbaz assured the potential investors that “Pakistan will not tolerate even a second’s delay” in facilitating Chinese companies.

He acknowledged that there were delays, and things had not “moved forward as per Chinese standards”; however, he stressed that Pakistan’s doors remained open to Chinese investors, adding that “we will not keep them waiting even for a second”.

“I am here speaking to you first as the chief executive officer of Pakistan and then as the prime minister,” he added.

The prime minister also held a series of high-level meetings with senior executives of China’s leading enterprises in Beijing.

He also invited Chinese com­­­panies to consider Pak­i­stan as their preferred investment destination, particularly for relocating industries into special economic zones, saying that the country offered a “un­­ique comparative advantage” with a large pool of skilled and cost-effective labour, competitive input costs and strategic connectivity to regional and global markets.

After wrapping up his six-day visit, PM Shehbaz subsequently returned to Pakistan on Thursday night.

Published in media, September 5th, 2025