China, India Makes Progress In Bilateral Economic, Trade Cooperation

Home>>Business

Last updated at: (Beijing Time) Sunday, June 22, 2003

China, India Makes Progress In Bilateral Economic, Trade Cooperation

DISCUSSION

CHINESE

SEND TO FRIEND

China and its largest South Asian trade partner India have boosted their bilateral economic and trade relations remarkably recently, witnessing 71 percent trade growth year-on-year in the first four months this year.

According to Chinese figures, China-India trade volume in the four months reached 2.31 billion US dollars, of which China's exports to India were 980 million US dollars, up 42 percent, whileChina's imports totaled 1.33 billion US dollars, up 101 percent.

Chinese figures show by the end of 2002, 15 Chinese-funded enterprises had been established in India, involving contracted volume of 37.2 million US dollars in fields of trade, machinery and home electric appliances, while India had 71 investment projects in China, with contracted fund of 188 million US dollars in fields of pharmaceutics, fireproof material and wrapper-making.

By the end of 2002, China signed 178 labor exportation contracts with India, concerning contracted fund of 1.072 billion US dollars, according to sources with the Chinese Ministry of Commerce.

As the two largest developing countries, China and India witnessed their economic exchanges upgraded from simple cargo trade to comprehensive cooperation covering trade, project contract and mutual investment, experts say.

Boasting over one third of the world population, China and India are complementary in economy, and enjoy bright prospect in economic and trade cooperation in information industry, energy, home electric appliances and transportation, experts say.

Questions?Comments? Click here

News Analysis: Iran, Next US Target? ( 2 Messages)

Five Major Problems in China's Income Distribution ( 3 Messages)

China Adopts Draft Regulation on Vagrants ( 4 Messages)

Democracy in Iraq, through Ballot or Bullet? ( 7 Messages)

China-made HDTVs Sold to US Army ( 3 Messages)

Chinese Girl Granted US "President Scholarship Prize" ( 2 Messages)