INDIA AND CHINA ARE PARTNERS

  Chinese president Wen Jiabao on Wednesday 15th December,2010 told that India and China are partners for cooperation and not rivals in competition. Mr Wen Jiabao, accompanied by 400 strong Chinese business delegation arrived on Wednesday on a three day visit. Chinese companies and business institutions proceeded to sign 50 deals worth staggering $16 billion at a formal function.
     The major agreements included those the China Development Bank signed for billions of  dollars in financing with the Reliance power Limited of the Anil Ambani Group and with ICICI Bank.
   The China Development Bank also signed a $ 2 billion agreement with Reliance Communication, also of the Anil Ambani Group. The other agreements include one between Dofeng Electric and Abhijet projects for supply of power equipments worth $2.5 billion between the Bank of China and the IDBI Bank for a &1.2 billion facility. Between the industrial and commercial Bank of China and the ICICI Bank for a $ 1 billion finance facility. Between Shandong and Tamil Nadu power corporation for supply of $800 million worth of equipment, and Vedanta for metal imports worth $330 million

Prof.John Kurakar