China Shows Interest in Building on the Bright Prospects of Sustained Engagement Between Two Countries in the Fields of Trade, Economy Culture and Tourism Among Others; Agreements (MOUs) Estimated at USD 2.5 Billion Concluded between Chinese and Indian Companies

The Union Finance Minister Shri Arun Jaitley reiterated the Government’s vision and commitment for working towards expanding and deepening engagements and relations between India and China based on mutual complementarities and common interests. The Finance Minister Shri Jaitley noted that as two large countries with growing economies, the relationship between India and China transcends bilateral scope and has regional, global and strategic significance. The Finance Minister was speaking when a high level Chinese delegation led by Mr. Xia Baolong, Chairman of the Standing Committee of Zhejiang Provincial People’s Congress, People’s Republic of China and comprising senior officials and business leaders called on him in his office here yesterday.

      Welcoming the Chinese delegation, the Union Finance Minister Shri Arun Jaitley recalled that there have been three meetings at the highest levels over past five months and such interactions provide the necessary impetus for strengthening bilateral relations.

Mr. Xia Baolong thanked the Union Finance Minister for the warm welcome. He informed the Union Finance Minister that the visit of the Chinese delegation was very successful and agreements (MOUs) estimated at USD 2.5 billion were concluded between Chinese and Indian companies. He conveyed their interest in building on the bright prospects of sustained engagement between India and China in the fields of trade, economy culture and tourism among others.

Bilateral economic engagement strengthened through MOUs and high-level meetings to deepen trade, investment and cultural cooperation. The government reaffirmed commitment to expand and deepen bilateral engagement with China across economic, trade, cultural and tourism domains based on mutual complementarities, noting regional and strategic significance; a high-level Chinese delegation met the Union Finance Minister and memoranda of understanding were concluded between Chinese and Indian companies to build prospects for sustained cooperation.