The minister said that the government-business partnership had opened new vistas of cooperation and understanding between the two countries which would undoubtedly lead to an enhancement of economic and trade relations. "Today's meeting serves as an important watershed in our bilateral ties", he said.

Abdullah urged Chinese business and industry to focus on a new vision of synergy with Indian businesmen, saying that both China and India possessed rich natural resources and had structures which complement each other.

He said he was confident that once the two economies reinforced this relationship India and China acould jointly diversify into a wider spectrum of economic activity and strive for strong business linkages that could face the challenges of emerging economic order. India was looking forward to China's entry in the WTO with both the countries playing a constructive role in the new trade regime, he added.

India, the minister said, had taken the initiative to open its economy and in almost all sectors hundred per cent foreign equity was permitted under the automatic route.

Referring to the recently-announced special economic zones, Abdullah said they would ab initio be free zones where investment would be permitted unfettered by any controls. He hoped that Chinese businessmen would find the investment climate in India increasingly attractive, pro-business and pro-growth.

Ruihua who is heading as 38-amember delegation is scheduled to call on commerce and industry minister Murasoli Maran on Wednesday. The six-day visit of the team is a follow up on the visit to China by an Indian team headed by Maran on February 21 and 22 and his earlier visit to the Chinese economic zones.