China keen to enter into auto sector JV

LAHORE: Chinese are interested in joint venture with Pakistan in mechanical parts, accessories, electric motor parts and accessories and electronic parts and accessories. The interest was shown by Gaoqiang, head of a eight-member Chinese delegation of Hebei Chamber of Commerce, which arrived in Pakistan on the invitation of S M Naveed, president of Pak-China Joint Chamber of Commerce and Industry (PCJCCI) on Monday.

The delegation will review joint venture opportunities in the fields of automobiles innovative accessories, town planning and vertical buildings infrastructure.  The delegation comprises Gaoqiang, Xu Yingliang, Cao Wei, Yang Yongang and Cao Zaiqiang.

Gaoqiang said that China has extensive manufacturing facilities that could be relocated to Pakistan based on the demand for accessories.

China is eager to make a massive investment in the Pakistani auto sector where the vehicle’s quality and the price will boost the competitiveness in the market, he said, adding that the process of putting the plant together is expected to be completed in two to three years.