China keen on South Asian investment

COLOMBO -- China has strong interest in developing business partners in South Asia, a top official told a gathering of business representatives from 95 countries on Wednesday.

China Council for the Promotion of International Trade Vice Chairman Yu Ping, while addressing the Commonwealth Business Forum, insisted that there was "great potential" for business in the region.

"China continues to be keen on investment. In some instances a country's investment in China is more than Chinese investment in it, which is likely to grow bilateral trade. China is an observer of the South Asian Association for Regional Cooperation," he said.

"Every year in China we organize a business forum to promote business between SAARC and China. This forum is becoming more and more popular. We do hope more businessmen from SAARC countries will participate in the business forum."

Yu was also upbeat about investment opportunities in East Asia and insisted that the Chinese government will continue to improve its economic policies to facilitate growth for businesses.

A 100-member strong business delegation has arrived from China to attend the Commonwealth Business Forum.

Representatives from 42 Chinese companies will also take part in a special trade and investment exhibition on the sidelines of the Commonwealth Heads of Government Meeting.

CBF is the main event preceding CHOGM and hopes to attract $2 billion in investment for Sri Lanka. It has also seen the highest number of participants from 95 countries.

There are 30 non-Commonwealth countries attending the CBF in Colombo, making it the most widely attended forum in CHOGM's history.

From the Commonwealth, Britain leads the list of highest participants with a 150 strong delegation while 250 business representatives have arrived from Africa. Over 800 local delegates and 25 others from Australia make for the number of participants topping 1,500.