India is a big potential market for China and there is an enormous scope of economic cooperation between the two nations, a Chinese embassy official said here today.
“India is a big potential market for China. More and more Chinese companies are coming to India,” Second Secretary, Chinese Embassy in India Li Rong Rong said.
Referring to the visit of Indian Prime Narendra Modi to China and Chinese President Xi Jinping’s visit to India earlier, she said these would “definitely promote cooperation between the two neighbours.”
“In 2013, China took over as India’s largest trading partner. India’s growth is fastest in the world this year. Huge potential of cooperation between China and India,” Rong said.
“We hope to work with Indian side to provide timely and accurate information for business with Cangzhou and thereby enhancing level of cooperation. Hope businesses from Cangzhou expand their activities in India,” she said while addressing the Cangzhou and India Economic and Trade Cooperation Promotion Conference.
Shang Liguang, Cangzhou Party Secretary, Cangzhou Municipal Party Committee said: “We would like to focus on this cooperation in the open policy and encourage our enterprises to go abroad for investment and attract business into China with advantages of funds, technologies, patents and management.”
“We will push both sides (India and China) to cooperate in different fields, especially in petrochemical and pipe equipment for a win-win cooperation and mutual development.”
Cangzhou’s steel pipe equipments occupy 60 per cent market in China and are exported to more than 90 countries.
In petrochemicals, Cangzhou has over 1,100 enterprises covering the fields of exploitation of oil and gas exploration, petrochemical, chemical materials, pharmacy, chemical fibre, rubber and plastics.
In 2014, the import and export volume between Cangzhou and India stood at USD 130 million in the fields of petrochemical, pipe equipment, ore products, machinery and vehicle parts, among others.