The Hindu Business Line : China woos India Inc to list on its bourses

FICCI roadmap
FICCI plans to set up a Chinese desk at its office in Delhi.
Indian and Chinese companies to participate in trade fairs being organised in the two countries.

FOSTERING RELATIONS: Mr S.K. Poddar, President, FICCI, exchanging documents with Mr Zhou Weimin of Beijing Investment Promotion Bureau after signing an MoU in the presence of Mr Sun An Min, Vice- Mayor of Beijing in Beijing. — Ramesh Sharma

Beijing , April 19

Beijing Equity Exchange Market (BEEM) has invited Indian companies to get listed on its bourses, which would enable India Inc to participate in China's equity market.

BEEM is a Government entity that identifies and sells state-owned Chinese companies as well as trades in the equity market.

The suggestion was mooted by a senior BEEM member at a meeting organised by the Asian Capital Forum for the visiting CEO delegation led by the Federation of Indian Chambers of Commerce and Industry (FICCI) President, Mr Saroj Kumar Poddar.

Common standards

This will not only allow Indian companies to participate in the Chinese equity market but also enable them to acquire Chinese companies put on the block. Earlier in a meeting the Assistant Commerce Minister, Mr Chen Jian, told the Indian delegation to work out common standards in areas of software and radio frequency identification device.

He also pointed out the need to have common accounting standards. In an interaction with FICCI delegates, Mr Shaeng Huaren, Vice-Chairman, National Peoples Congress, told Mr Poddar that a visit by a group of Parliamentarians from India would help enhance understanding between political leadership.

Chinese desk

The chamber informed the Chinese leadership that it would set up a Chinese desk at FICCI office in Delhi. The chamber also added that it would present a paper on alternate energy sources with special emphasis on biofuels. Besides, Indian and Chinese companies will soon be participating in trade fairs being organised in the two countries.

On Tuesday, FICCI signed a memorandum of understanding (MoU) with China. The MoU was inked with Beijing Investment Bureau to explore ways for co-operation between companies of both the countries.

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