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China-India
trade soars
BEIJING - China and its largest South Asian trade partner India have boosted
their bilateral economic and trade relations 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 US$2.31 billion, of which China's exports to India were $980 million,
up 42 percent, while China's imports totaled $1.33 billion, 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 in the
fields of trade, machinery and electrical appliances, while India had 71
investment projects in China, with contracted funds of $188 million in the
fields of pharmaceuticals, fireproof materials and wrapper-making.
By the end of 2002, China signed 178 labor exportation contracts with India,
concerning contracted funds of $1.072 billion, 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's population, China and India are
complementary in economy, and enjoy bright prospects in economic and trade
cooperation and in the information industry, energy, electrical appliances and
transportation, experts say.
(Asia Pulse/XIC)
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