This move is part of its new investment policy of encouraging domestic entrepreneurs to move overseas.
In a strategic shift in the investment policy, China now encourages domestic entrepreneurs to move overseas for putting in their surplus funds for capital formation, chief of Shandong province of China Xu Maobo said.
Speaking at a meeting organised by Assocham, Maobo, who is leading 15-member business delegation to India said, "China has reversed its earlier investment policy which encouraged foreign direct investments into China, as it has already attracted enough overseas investments."
In order to help Chinese companies go transnational, he said the government has framed several incentives to protect overseas investments.
The Chinese have identified areas like IT, biotechnology, manufacturing, textiles, petroleum and power, including hydro and non-renewable energy sources for investment in India.
Maobo invited India Inc to explore business opportunities in the identified sectors in the Shandong province.
He also offered Chinese expertise for joint collaboration in the fields of software development and business process outsourcing, among others. Electronic and IT industry are the priority sectors of the government as the country lagged behind countries like India, he said.
China was committed to building up an electronic information city in the next few years and invited Indians to invest there, he added.