Shanxi held an investment promotion conference in Mumbai, India on Nov 16 to further economic cooperation between the two sides.
Shuozhou bureau of commerce and Shanxi businesses, such as Taiyuan Heavy Machinery Group and Datong Coal Mine Group, introduced their industrial projects and promoted products at the event. Energy, modern services, agricultural and emerging industries were discussed during negotiations.
The conference aims to attract foreign investment from India by presenting the investment environment and government policies of Shanxi and help local leading companies broaden their market in India and South Asia.
Shanxi will build itself into an industrial base for modern manufacturing, new materials and IT, as well as a logistics hub in Central and West China, in the hope of boosting the transformation of a resource-dependent economy through collaboration with partners like India.
"As a vital part of the 'Shanxi Brands Silk Road Tour', the promotion will improve mutual understanding and bring more business opportunities to Shanxi," said Wang Shicai, counselor at the Economic and Commercial Section of the Consulate General of China in Mumbai.
An official from Maharashtra in India claimed that the promotion will further the partnership and communication between India and Shanxi.
More than 120 businesspeople from Shanxi and India attended the conference.
