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| China, India makes progress in bilateral economic, trade cooperation |
| CCTV.COM 2003-06-22 15:06:32 |
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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, while China'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.
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Editor: Xiao Wei Source:Xinhua
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