Dushanbe, Tajikistan: Ahead of President Xi Jinping’s visit, China has sought “work efficiency” in India and welcomed Prime Minister Narendra Modi’s efforts to push reforms to spur economic growth, saying it was “ready to meet India halfway” in its quest for development and prosperity.
Foreign Minister Wang Yi said China was all set to sign pacts providing for major investment in infrastructure projects in India including industrial parks and railways networks during Xi’s visit while expressing confidence that the trip will elevate the bilateral ties to a “new level”.
“Of course we look forward to reforms. Economic reform is in India’s own interests. We can tell that Prime Minister Modi is pushing ahead with the reforms. If you insist on me mentioning one area, we hope you raise your efficiency of work,” he said when asked to identify areas for reform to boost Chinese investments in India.
China’s foreign exchange reserves, the largest in the world, reached a record $3.95 trillion (Dh14.5 trillion) in March and it plans to invest around $500 billion overseas in the next five years, a share of which is expected to go India’s way.
Sixty-year-old Xi, who took over as the head of the ruling Communist Party in 2012 and President and military chief in March last year, had been sending clear signals of boosting bilateral relations with India and is likely to make major announcements about Chinese investment in India’s infrastructure sector.
“We can feel the strong desire of the new government of India led by Prime Minister Modi to strengthen China-India relationship. Probably, this is fully in line with the fundamental interests and wishes of India as a nation and its people,” Wang said.
Boundary dispute
Welcoming efforts by Modi to bring a new momentum in the Indian economy, he called for joining of hands by the “two major markets” in the world to chart a new course of growth in Asia and said the “highly complicated” boundary dispute should not be allowed to hamper bilateral relations.
“Our overall thinking is that China and India, as two big neighbours, as two big markets and as two of the world’s major civilisations should unite for even closer cooperation so that together we can usher in a new path of growth and development for Asia in the 21st Century,” Wang said in an interview here in the Tajik capital.
Calling for greater cooperation in key areas, he said the time has come for China and India to seek joint development and prosperity so that together both countries could contribute to peace and prosperity of humanity.
“We are ready to meet India halfway and echo India’s efforts and we have full confidence that under leadership of Prime Minister Modi, China-India relations will enjoy even broader prospects,” Wang said.
Wang identified trade imbalance between the two countries as a major issue and underlined the need to address it.
