Wenzhou (Zhejiang) launches the first dedicated center in China to promote investments into India

Wenzhou (Zhejiang) launches the first dedicated center in China to promote investments into India

1. In a unique show of the importance being attached to the Make in India campaign, local municipal government of Wenzhou (one of the richest cities in south eastern Zhejiang, famous for its entrepreneur led l ‘Wenzhou Model’ of growth) along with the Consulate General of India in Shanghai launched a dedicated “India China Economic and Cultural Center (ICECC)” on 15 January at the famous Wenzhou Great Hall of the People.

2. In a ceremony, that was attended by nearly 120 leading entrepreneurs from Wenzhou who are looking at investing in India, along with Wenzhou city leadership (including Vice Mayor and Vice Chairman of Wenzhou CPPCC) a total of 10 MoU’s were signed between leading companies from Wenzhou and their Indian counterparts to promote trade, investments and cultural cooperation with India in 2016.

3. It was also decided that under the aegis of the ICECC, which will be exclusively channelizing all Wenzhou’s activities towards India, an “India Culture Week” would be organized in mid June 2016 in Wenzhou, during which an Indian Food Festival, an Indian Film Festival and Indian cultural festivals will be organized.

4. ICECC also brings together all leading Yoga clubs from Wenzhou, who will jointly organize the International Day of Yoga on 21 June 2016 in Wenzhou with thousands of yoga lovers from Wenzhou joining in.

5. Mr. Sun Wei Qing (Johnson), local Wenzhou entrepreneur& CEO of Sindoz, who also partnered in initiating the ICECC and would also be leading a business delegation from Wenzhou to attend the Make in India Week to be held in Mumbai from 13 -18 February 2016. Wenzhou entrepreneurs also put up an annual pavilion of Wenzhou’s key exhibits every year in December in Mumbai.

6. The core strengths of Wenzhou small and medium industry include textile machinery, electronic goods, switches and electrical products, which also have a huge potential in India. Several Wenzhou manufacturers are also planning to set up manufacturing units in India in 2016.

7. President of Zhejiang Federation of Industry and Commerce ( ZFIC) Mr. Nan Cunhui (who also heads the Wenzhou based Chint Group and met with Hon’ble Prime Minister Modi last year) has big investment plans for India in the range of 1.6 mn dollars in the renewable energy sector. Similarly, another leading group from Wenzhou, the Aokang Group, which is into leather, real estate development and textile machinery is also looking at investing in India, said its President Mr. Wang. Yalong Group, one of China’s leading group for technical training equipments, signed an MoU with a Rajasthan based institution for supplying technical training equipment to further improve the skill set of youth in Jaipur.

8. Wenzhou (located in the south east of Zhejiang province is one of China’s richest cities famous for its legendary entrepreneurial spirit, with its entrepreneurs spread globally having invested in nearly 131 countries. With the opening of the ICECC, Wenzhou has become the first city in mainland China – to have launched an exclusive center to promote economic and cultural activities in India, with approval of the Chinese Ministry of Commerce. ICECC has planned a series of activities for 2016 in consultation with the Consulate General of India in 2016, which will be jointly organized in Wenzhou henceforth.

9. The Indian at the launch of the ICECC in Wenzhou and the Business Forum on Make in India was led by the Consul General of India in Shanghai and included China representative of CII and CEO’s from GMR and ICICI.

16 January 2016


List of MoUs signed

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