India, China can complement each other: Diplomat

India and China need a strategic alliance to woo business into each other`s country and together can complement one another to become global leaders, a Chinese official said on Saturday.

Last Updated: Jul 23, 2011, 21:11 PM IST

Chandigarh: India and China need a strategic
alliance to woo business into each other`s country and
together can complement one another to become global leaders,
a Chinese official said on Saturday.
Penng Gang, Economic and Commercial Counselor, Chinese
Embassy in India, invited Indian entrepreneurs for doing
business in China during a seminar organised by CII here and
described China as the "world factory" and India as the "world
office", a CII release issued here said.

"The infrastructural development in China along with
Indian skilled-English speaking brain power can make the two
countries as partners and achieve growth in foreign trade,"
Gang said.

He urged the governments of both sides to provide
necessary preferential policies and create better investment
environment for foreign investors, to attract more FDIs and
create huge employment.
Stating that China is committed to stimulate the trade,
Gang asserted to join hands towards the new trade target of
USD 100 billion by the year 2015.

exchanges between the two countries.

"The Indian commercial banks have set up more than 10
branches in China and similarly, National Development bank of
China (NDBC) and Industrial and Commercial Bank of China
(ICBC) have also set up their businesses in India," he added.

PTI