CHINA-INDIA: ECONOMIC COOPERATION

China's Ministry of Commerce (MOFCOM) said at its regular press conference that economic and trade relations between China and India have maintained a steady growth momentum and have a large room for cooperation. Total trade volume between China and India stood at $70.15 billion in 2016 and that amount rose 21.5 percent year-on-year to $47.52 billion from January to July this year, according to MOFCOM data. Cumulative investment in India from Chinese companies reached $5.06 billion by the end of July. India's cumulative investment in the Chinese markets was $721 million during the same period. MOFCOM said as two large developing countries, China and India could adhere to a pragmatic and open attitude to implement the consensus of leaders from both countries and China and India could create sound environment for bilateral economic and trade cooperation to realize mutual benefit and common development.

(Comment: The comment comes before the BRICS Summit later in September and as India has begun to scrutinise Chinese commercial activities in India more closely.)







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