Chinese firm to set up joint venture investment bank

LAHORE - Chinese firm belonging to Punjabs sister province Sichuan has planned to set up joint venture
investment bank in Lahore with an initial investment of $30 million in collaboration with a Pakistani firm for help
promoting investment in two provinces.
The proposed bank would also provide investment and consultancy services to Chinese and local firms
interested in investment in Punjab.
This was disclosed in a meeting held between the representatives of Chengdu He-Hong Investment and
Management Company headed by its General Manager Hui Jinsong and Punjab government. Consultant to
Chief Minister Punjab on Economic Affairs and Vice Chairman Punjab Board of Investment and Trade (PBIT),
Pir Saad Ahsanuddin represented the Punjab government on this occasion.
CEO Punjab China Bureau Dr. Zafaruddin Mehmood was also present on this occasion. Pir Saad informed the
members of the Chinese delegation that vast opportunities of foreign investment are available in Punjab and
Chief Minister Muhammad Shahbaz Sharif is taking special interest in promoting trade and investment activities
with Peoples Republic of China and his last visit to China was aimed at increasing bilateral cooperation. Pir
Saad informed that Chief Minister Punjab has impressed upon the Chinese firms to take benefit of the
facilitating atmosphere in the Punjab.
Chinese delegation told that they have identified the areas of education, agriculture health and infrastructural
development for investment. The delegation also assured that they would motivate other Chinese companies
especially from Sichuan province to invest in Punjab, as it is most safe place for foreign investors.
Pir Saad on behalf of the Punjab government assured the Chinese delegation that their investment would be fully
secured and all necessary facilities and cooperation would be provided to them. The other members of the
delegation were Dr. Song Zhihui, Hu Honghan, Tang Hongyu and Ms Li Xiaomei.