| Chinese company to set up bank in Lahore |
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| Saturday,September 26,2009 Posted: 13:58 BJT(0558 GMT) |
| From:The News Article type:Reproduced |
LAHORE: A Chinese firm from Sichuan, Punjab’s sister province, has planned to set up an investment bank in Lahore in collaboration with a Pakistani company with an initial investment of $30 million, which will help promote investment in the two provinces.
The bank will also provide investment and consultancy services to Chinese and local companies interested in investment in Punjab.
This was announced in a meeting between representatives of Chengdu He-Hong Investment and Management Company, headed by its General Manager Hui Jinsong, and the Punjab government.
Punjab Chief Minister’s Consultant on Economic Affairs and Punjab Board of Investment and Trade Vice Chairman Pir Saad Ahsanuddin represented the provincial government. Punjab-China Bureau CEO Dr Zafaruddin Mehmood was also present. Members of the Chinese delegation included Dr Song Zhihui, Hu Honghan, Tang Hongyu and Li Xiaomei.
The delegation members said they had identified areas of education, agriculture, health and infrastructural development for investment. They assured that they would encourage other Chinese companies, especially from the Sichuan province, to invest in Punjab as it was a safe place for foreign investors.
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