China-India Relations: Two nations to step up economic cooperation despite differences

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Chinese and Indian officials are meeting in Beijing to discuss economic cooperation. At the fifth China-India Strategic Economic Dialogue, both parties have pushed for cooperation on new projects in the areas of railways, the energy sector, and high-tech industries. CGTN's Li Jianhua tells us more.

Once again, China and India, the world's second and seventh largest economies, talking about strategic economic cooperation, the fifth round this time.

Chinese officials say the two nations - both developing countries - should fight trade unilateralism together. The Indian side said it has begun a 15-year development plan along the same lines as Beijing's "Made in China 2025".

One month before the meeting, Indian newspaper Deccan Herald reported that Indian Prime Minister Narendra Modi "seeks to ease strain in India-China ties" and India would like to "mend fences".

The two nations had a military face-off in the Donglang area last year, which lasted two months.

However, bilateral trade hit 80 billion US dollars last year, a record high.

Earlier in March, the two signed more than 100 trade agreements worth some 2.4 billion US dollars.

Record high 101 trade agreements $2.4 bln.

Experts say China and India can't afford to compromise their economic ties, regardless of conflict.

LIU CHUNSHENG, ASSOCIATE PROFESSOR CENTRAL UNIVERSITY OF FINANCE AND ECONOMICS "China has achieved remarkable economic progress in the past five decades, which provides valuable lessons to India's development. And China's inclusive and responsible attitude towards globalisation for the economic reform (and opening) attracts India's attention and gives them more confidence."

The meeting also touched on the China-proposed Belt & Road Initiative. Experts say India has given mixed signals on the initiative.

LIU CHUNSHENG, ASSOCIATE PROFESSOR CENTRAL UNIVERSITY OF FINANCE AND ECONOMICS "India's attitude is contradictory. It's hesitating to participate in it, (but also) worrying about being left behind and trying to use some resources for its own interests."

Experts say India wants loans from the Asian Infrastructure Investment Bank, but says no to the Belt and Road.

LI JIANHUA BEIJING "Despite the differences India and China may have - be it over territory or the China-proposed Belt and Road Initiative - the world's two most populated countries have opted to set aside these challenges, and look to further collaborate and work together. LJH, CGTN, in Beijing."