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ROLLING OUT THE RED CARPET: Mr M.M. Murugappan, Director-Technology, Murugappa Corporate Board, and Mr Zhang Jinbo, Mayor, Sanhe City, China, at a meeting in Chennai. - Bijoy Ghosh

Chennai , Jan 3

The Yanjiao Development Zone in China has sought Indian investments into the zone.

An official delegation from the Zone met with businessmen in Chennai on Tuesday and made presentations about the favourable investment climate there.

They spoke about the excellent infrastructure and favourable business climate and said they mainly invited software, pharmaceutical and food processing industries into the zone.

Asked about protection of intellectual property rights and the risk of an appreciation of the Chinese currency, they said those were issues related to the Chinese federal government and had no control over them.

Welcoming the delegation, Mr M.M. Murugappan, Chairman, Carborundum Universal Ltd of the Murugappa group, endorsed the views of the Chinese. Carborundum Universal recently set up a joint venture in the Zone to manufacture industrial diamonds.

Mr Murugappan later told Business Line that the company had taken a unique step, choosing the zone located to the east of Beijing city, in preference to the traditional foreign investment destinations such as Guangdong or Shanghai.

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