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State Bank of India to attract more investment to China
By Hu Xiaocen |
March 6, 2012, Tuesday
|
Online Edition
Online Edition
STATE Bank of India today said China is one of its top priority markets as it aims to help more Indian companies invest in the Chinese mainland.
The largest commercial bank in India, State Bank of India also plans to expand its network in China by opening two more branches in Tianjin and Guangzhou.
"China is strong in manufacturing, especially in energy supply, steel plant and ship building. We've helped many Chinese corporations who are doing businesses in India," said Pratip Chaudhuri, chairman of the bank.
The state-backed bank first came to China in 1997 and set up its Shanghai branch in 2006 with a registered capital of 500 million yuan (US$79.2 million).
"Bilateral trade between China and India has continuously grown. China has become India's biggest trade partner," said Hemant Contractor, managing director of the bank.
"Sino-Indian trade was around US$60 billion last year, among which more than 65 percent were contributed by China's exports to India," he added.
Total bilateral trade between the nations is expected to hit US$100 billion by 2015, according an earlier Deloitte's report.
The largest commercial bank in India, State Bank of India also plans to expand its network in China by opening two more branches in Tianjin and Guangzhou.
"China is strong in manufacturing, especially in energy supply, steel plant and ship building. We've helped many Chinese corporations who are doing businesses in India," said Pratip Chaudhuri, chairman of the bank.
The state-backed bank first came to China in 1997 and set up its Shanghai branch in 2006 with a registered capital of 500 million yuan (US$79.2 million).
"Bilateral trade between China and India has continuously grown. China has become India's biggest trade partner," said Hemant Contractor, managing director of the bank.
"Sino-Indian trade was around US$60 billion last year, among which more than 65 percent were contributed by China's exports to India," he added.
Total bilateral trade between the nations is expected to hit US$100 billion by 2015, according an earlier Deloitte's report.
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