With the India versus China comparison gaining currency, Finance Minister P Chidambaram today said New Delhi does not view Beijing as a rival but as a partner for making the 'Asian Century' a reality."This century promises to be the Asian century. China and India are leading the drive to make this century the Asian century," he said after inaugurating the first full-fledged branch of Bank of India (BOI) here.Referring to China's stupendous economic growth that has even touched 13% in the peak years after the reforms in 1978, Chidambaram said he was confident India, too, would be able to do it over the next 10 to 20 years."Many other countries, envious of China or India, may regard this as China VS India. We do not do so. We regard it as China and India working together to make this century an Asian century," he said.He emphasised that relations between India and China in trade, commerce, business, diplomacy and in people-to-people exchanges should strengthen in the years to come.Chidamabaram noted that bilateral trade in 2006 grew to a record $25 billion, and there exists great scope for the businesses of the two countries to co-operate more with the setting up of more financial institutions like banks in both countries."Not to copy Chinese-style SEZs"Amid controversy over the setting up of China-style special economic zones (SEZ), Finance Minister P Chidambaram said today said the government recognised SEZs as "useful tools" in furthering industrialisation but will implement the concept in its "own way"."We recognise that SEZs are a useful tool for industrial development, especially in areas where infrastructure is lacking. Where infrastructure already exist, it is perhaps not necessary to create SEZs," Chidambaram said.The one-time fishing village of Shenzhen was the first the SEZ in China. It was China's first major experiment with capitalism after late Chinese paramount leader Deng Xiaoping's landmark visit to the southern Guangdong province in 1986."Where infrastructure is not existent, a SEZ will be a useful instrument to attract investors to build the infrastructure, to take advantage of the concessions offered by the government and to industrialise that area.""We recognise the validity of that principle and we are trying to implement it in our own way," he said.The Shenzhen SEZ was originally established in 1979 due to its proximity to Hong Kong, then a prosperous British colony.The SEZ was created to be an experimental ground of capitalism in "socialism with Chinese characteristics". The location was chosen to attract industrial investments from Hong Kong since the two places share the same language and culture, local officials said.
