He was talking to representatives of media in Bao on the second day of his visit to China on Thursday.
The chief minister said historic agreements of mutual cooperation had been inked with China not only at Pakistan but at Punjab level as well. He especially referred to the efforts for exploration of iron ore reserves in Rajwa, Chiniot and said a historic agreement was made with a Chinese company in this regard at the beginning of the current month.
He said agreement with Chinese company had paved the way for the setting up of the first coal-powered steel mill in Pakistan which will also result in creation of more than 100,000 job opportunities for people of the area.
He said initial results about quality of iron ore in Rajwa, Chiniot were highly encouraging and the standard of iron ore found in this area was not less than that of Brazil, Russia and India. As a result of the agreement signed with the Chinese company, Shahbaz said exploration of iron ore and other precious minerals will open up a new era of progress and development in the country.
Replying to a question, the chief minister said, in the wake of the granting of GSP Plus status, the Punjab government had evolved a project with the cooperation of a big Chinese group for setting up of Quaid-i-Azam Apparel Park which will be equipped with the latest facilities.
He said Quaid-i-Azam Apparel Park Project was of vital importance for development of textile and garments sectors and the Chinese group will make investment of two billion dollars in the project which will also generate lakhs of job opportunities.
He said the same Chinese group had also expressed interest in cooperation in setting up two coal power plants of 660 megawatt in Sahiwal and two similar plants of 135 megawatt in industrial estates.
Shahbaz Sharif said, the investment-friendly policies of Pakistan Muslim League-N government had restored the confidence of foreign investors and several Chinese companies are making investment in energy, infrastructure and transport sectors in Pakistan.
He said special facilities and incentives were being offered to Chinese investors.
Meanwhile, the chief minister Punjab in the company of Prime Minister Muhammad Nawaz Sharif met Chinese Prime Minister Li KeQiang and Chairman and President of Exim Bank, Li Ruogu. Matters of mutual interest and bilateral relations were discussed during the meeting.
The chief minister said Pakistan attached high importance to its relations with China and the present Chinese leadership was promoting economic and trade contacts with Pakistan. He said that rapid progress of China was a role model for all countries of the world including Pakistan.