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| Chinese pension fund keen on India |
| Press Trust of India / New Delhi Feb 08, 2010, 19:35 IST |
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Expressing hope that the Indo-China bilateral trade could surpass $60 billion in the next two years, the Chinese national pension fund chairman today said they are planning to invest a part of its over $100 billion funds in India.
Moreover, both the countries' economies are strongly supplementary to each other, China's National Council for Social Security Fund Chairman Dai Xianglong said here.
"In the next one to two years, if we can work together to solve those problems in the bilateral trade, including the issue of big trade surplus on the Chinese side, the two-way trade might be able to exceed $60 billion," he noted.
Speaking at the annual DSP Merrill Lynch India Investor Conference here, Xianglong said China's pension fund has crossed $100 billion.
"By the end of 2009, the total amount of China's National Social Security Fund has exceeded $100 billion and a part of it may also be invested overseas, including in India," he said.
According to him, the bilateral trade declined to $43 billion last year, due to the global financial crisis. In 2008, the same stood at $51.8 billion.
Both India and China may carry out in-depth exchanges and cooperation in fields like infrastructure, agriculture, pharmaceutics, healthcare and new energy, Xianglong said.
With India improving its infrastructure, he noted Chinese firms could help with their technology at a reasonable price.
"More investment by Chinese enterprises here is beneficial for both the countries," he added.
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