China remained Pakistan’s largest source of foreign direct investment (FDI) in November, injecting a net $81.6 million into the economy as total net inflows from all partner countries stood at $197.7 million, data released by the State Bank of Pakistan (SBP) showed, according to Gwadar Pro. China accounted for more than 41% of the total FDI received during the month. Gross inflows from the Chinese mainland amounted to $92.7 million, while outflows of $11.1 million reduced the figure to a net $81.6 million.

Hong Kong of China, classified separately in the SBP data, contributed net inflows of $23.3 million in November. Other major investment partners during the month included Switzerland ($16.8 million), the United Arab Emirates ($14.5 million) and South Korea ($8.3 million), while the remaining inflows came from other countries. China also retained its position as Pakistan’s leading investor during the first five months of the ongoing fiscal year 2025-26.

From July to November, China injected $308.4 million, accounting for about one-third of the $927.4 million in total net FDI received during the period. During the July–November period, Pakistan received net FDI from the UAE ($100.8 million), Switzerland ($89.4 million), the United Kingdom ($55.6 million), South Korea ($40.4 million), Canada ($38.3 million), Japan ($32.5 million), Bahrain ($22.2 million), Malaysia ($16.7 million), the Netherlands ($16.3 million).

France ($12.2 million), Norway ($11.2 million), the United States ($11.2 million) and Singapore ($10.2 million). Sector-wise data showed that in November, the power sector attracted the largest inflows at $86.8 million, including investments in thermal ($6.9 million), hydel ($36.3 million) and coal-based projects ($43.6 million). Financial businesses followed with $67.7 million, while electrical machinery received $13 million.

In the first five months of FY26, the power sector remained the dominant destination for foreign investment, drawing $383.8 million, including coal-based projects ($187.5 million), hydel ($162.7 million) and thermal ($33.6 million). Other sectors attracting inflows included food ($44.3 million), electrical machinery ($58.5 million), petroleum refining ($28.6 million) and textiles ($16.8 million), according to SBP data.

Credit: Independent News Pakistan (INP) — Pak-China