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China invites Indian industry to invest in Zhenjiang

May '07
Mr Shi Heping, Secretary Zhenjiang Municipal Party Committee called for better bilateral trade cooperation and deeper friendship between the two countries and urged the Indian industry to invest in Zhenjiang (Jiangsu Province ).

Mr Shi was addressing the India-China economic seminar, organised by the Confederation of Indian Industry (CII), with special focus on Zhenjiang here on Monday.

Impressed by India's infrastructure and cultutral and historical background, Mr Shi said, "What we saw during our visit has boosted our confidence to do business here." Giving a brief presentation on Zhenjiang, he said the unique location and transportation condition haven made it an attractive investment destination.

Located near Yangtze River delta area, Zhenjiang port is one of the main ports in China. He said Zhenjiang has emerged as the fastest growing service area in China with 1,400 foreign companies having already invested in the region.

Mr Shi said the trade volume between Zhenjiang and India stood at $133 million. He also said that the Zhenjiang administration also facilitated easy clearances for foreign investment.

China's Ambassador to India, Mr Sun Yuxi said "As strategic partners in promoting peace and prosperity, China and India can serve the world better. Together, they can lead the world." Mr Sun Yuxi expected China-India trade to cross the targeted $50 billion set for the year 2010, and even may touch $80 billion.

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