Pakistan, China review progress on $20bn worth of MoUs

July 16, 2026 (MLN): Pakistan and China have reaffirmed their commitment to deepening economic cooperation, with discussions focused on investment promotion and avenues to strengthen bilateral financial ties.

Pakistan's Ambassador to China, Khalil Hashmi, called on Federal Minister for Finance and Revenue Muhammad Aurangzeb, where the two sides reviewed progress on investment facilitation initiatives being undertaken by Pakistan's Embassy in Beijing, according to a press release issued.

The finance minister appreciated the Ambassador's efforts in advancing Pakistan's economic diplomacy in China, emphasizing that attracting quality investment, expanding exports, and promoting private sector collaboration remained central to the government's economic agenda.

Khalil Hashmi informed the meeting that MoUs valued at over $20bn had been signed between Pakistani and Chinese entities, supported by a dedicated mechanism to monitor implementation, adding that a significant number of these commitments had already progressed into formal agreements and commercial arrangements.

He further highlighted growing Chinese private sector interest across manufacturing, logistics, pharmaceuticals, biotechnology, textiles, and industrial services, noting that nine agreements had recently been concluded in the pharmaceutical and biotechnology sectors, while more than 150 Chinese companies were currently being engaged through the Embassy's investment facilitation platform.

The meeting discussed measures to strengthen business-to-business collaboration, particularly for SMEs, through partnerships with leading Chinese industrial platforms.

The finance minister appreciated the Embassy's structured approach to investor engagement, including sector-specific outreach, advance project preparation, and closer coordination between potential investors and Pakistani businesses.

Discussions also covered expanding cooperation in capital markets, sovereign financing, and emerging areas of financial innovation, with the Ambassador briefing the finance minister on ongoing engagement with leading Chinese financial institutions and development partners, preparations for future investment roadshows, and opportunities to strengthen collaboration with institutions such as the Asian Infrastructure Investment Bank and the Silk Road Fund.

Khalil Hashmi also apprised the finance minister of efforts to align technical and vocational training with new Chinese investments to help develop the skilled workforce required by emerging industries, while the meeting reviewed measures to strengthen institutional coordination and further improve investment facilitation between the two countries.

Finance minister Aurangzeb appreciated the progress achieved and highlighted the importance of translating investment commitments into timely implementation, emphasizing the need for effective coordination across government institutions to facilitate project execution and enhance investor confidence.

The meeting also reviewed Pakistan's efforts to deepen economic cooperation under the China-Pakistan Free Trade Agreement, with both sides discussing avenues for expanding exports, promoting value-added manufacturing, improving market access for Pakistani products, and encouraging long-term industrial collaboration.

The finance minister reaffirmed the government's commitment to strengthening Pakistan's strategic economic partnership with China through sustained reforms, improved ease of doing business, enhanced investment facilitation, and continued engagement with Chinese public and private sector stakeholders.

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