Pakistani Prime Minister Shehbaz Sharif arrived in Hangzhou on May 23, 2026 [2], to begin a four-day official visit to China [1].
This trip marks a critical transition for the China-Pakistan Economic Corridor (CPEC) as both nations move into Phase-II. The focus has shifted from large-scale infrastructure toward business-to-business (B2B) investments and technology transfers to stabilize Pakistan's economy.
Upon landing at Hangzhou Xiaoshan International Airport, the Prime Minister was received by Chinese officials, including Zhejiang Vice Governor Xu Wenguang. The itinerary centers on a Pakistan-China B2B investment conference designed to attract private sector capital and foster industrial cooperation between the two nations.
As part of the diplomatic engagements, both sides are signing memorandums of understanding (MoUs) regarding technology, and the establishment of sister-province relationships. These agreements aim to create direct institutional links between regional governments in China and Pakistan to facilitate trade.
Sharif emphasized the historical reliability of the partnership during his visit. "Earthquakes, floods, peace and difficult times — China has always supported Pakistan in an unwavering fashion," Sharif said.
The visit is intended to strengthen the strategic partnership and ensure that the economic benefits of CPEC are expanded through increased private sector participation. By focusing on the Zhejiang province, Pakistan seeks to emulate the industrial success of one of China's most productive economic hubs.
“China has always supported Pakistan in an unwavering fashion.”
The shift toward CPEC Phase-II signifies a strategic move away from state-funded infrastructure projects toward sustainable, private-sector-led growth. By prioritizing B2B forums and technology MoUs in Hangzhou, Pakistan is attempting to diversify its economic base and reduce reliance on sovereign loans by attracting direct foreign investment from Chinese provinces.
