Punjab holds huge biz potential for Chinese cos: Le Yucheng

Chinese companies are keen to invest in Punjab as the state has a robust enterprising spirit and holds huge potential in several industrial segments, according to Le Yucheng, China's Ambassador to India.
Addressing a meet organised by Confederation of International Chambers of Commerce and Industry here today, Le Yucheng said that Punjab has a robust enterprising spirit and the Chinese companies were willing to bring in investment through direct financing and latest know-how technology.
He further said that the Chinese companies working in the field of agro and food processing, telecom, power & renewable energy, textiles, fisheries and light engineering will be keen to invest in Punjab.

He said that Punjab offers a wonderful platform with great infrastructure including roads and connectivity for Chinese companies to forge joint ventures in this state.
The ambassador praised the entrepreneurs of Punjab for their efficiency and skills matching similar qualities of Chinese businessmen, while pointing out that it holds immense potential for both the business community to share the common goals to develop economic ties with India.
China was open to starting banking operations in India and may have some Chinese Bank Branches in Punjab as well, he said.

He said that though it is a complex mechanisms but hoped that India would soon allow Chinese Banks to operate in India and vice versa.

The Ambassador said that India-China trade needs to be much stronger adding that it would help the two economies and the trade would likely go up in coming years.
"India and China are the most populous countries in the world with huge consumer markets and can greatly benefit each other with Chinese investment in India in several segments including infrastructure and in core businesses," he said.
He said that the two countries are celebrating 56th anniversary of Diplomatic relations and China would open up new and traditional trade routes with India to boost economic ties.
The Ambassador said that Punjab holds a huge tourism potential and would suggest that Indians should make China a big tourism destination for developing people-to-people contact to forge better relationship between the two countries.

He also assured to look at the proposal for visa-on-arrival for Indians which he said would be on reciprocal basis.
The Chinese Ambassador said that the forthcoming visit of Indian Prime Minister to China in May or June this year would be of great importance for China and many agreements would be possible with the common goal for taking the mutual ties to greater heights.
He said that the Chinese economy has moved away from quantity to quality and expects to sustain a higher growth trajectory of 7.4 per cent from presently 7 per cent GDP growth in next five years.