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China to invest $500 million for core development in India

June 23, 2003 11:43 IST

China on Monday pledged an investment of $500 million for infrastructure development and resource building in India and agreed to a plan of action for economic cooperation between the two countries.

This was stated by the External Affairs Minister Yashwant Sinha after hour-long talks between Prime Minister Atal Bihari Vajpayee and his Chinese counterpart Wen Jiabao at the Great Hall of the People in Beijing.

Sinha told reporters that the Chinese side sought cooperation in the area of public finance and the need for setting up a mechanism for a dialogue in this regard.

The two sides also signed nine accords, including those on simplifying visa procedures, enhancing cooperation on renewable energy and increasing contacts in the field of law and justice.

Sinha said that the Chinese Premier made eight significant points to enhance ties between the two countries that included mutual understanding and trust and greater people to people contact.

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Number of User Comments: 4

Sub: Give Chinese Cargo shorter route to West

India Should explore possibility of providing chinese cargo with shorter route to western world. China is has a huge trade surplus and many of the ...

Posted by Vikrant Dhoke

Sub: Indo-China Aggrement

Since a new dialogue session between india and china has begun after long time, there should also be some collaborration in education and technical field, ...

Posted by lokendra Kumar

Sub: chinese plan unvailed

by these 500 million dollars that chinese say they would be for the aid,they want to show that they are superior and mightier than india,but ...

Posted by sanket

Sub: Why trust the serpent?

What is the need to enhance ties with a rogue state that abets naxalism,maoism,occupying Tibet and Ladakh.With military superority over China anhilitate China just as ...

Posted by Kaushik


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