China on Thursday conveyed its 'heartfelt appreciation' to the Indian Navy for rescuing a critically injured Chinese mariner from a cargo ship off the Mumbai coast and providing him with timely medical treatment.
Rejecting mounting US calls to allow the yuan to rise more quickly, Zhong said changing the exchange rate was not the way to fix a huge bilateral trade gap, and that it could upset the global economy.
China on Monday denied reports of reaching an agreement with the United States over Washington's demand to let its currency Yuan appreciate.
"We are working (on it)... we will try our best" to resolve the issue through bilateral discussions, Chinese Ambassador to India Zhang Yan. Chinese Vice-Minister of Commerce Zhong Shan and Indian Commerce Secretary G K Pillai held talks in New Delhi on Thursday on the issue. Pillai informed Zhong that India would extend the safety standards on imported toys to all the countries, not just China. Even the domestic manufacturers would be subjected to the same standards.
India has lifted the ban on importing Chinese toys imposed in January, but retained the safety standards for consignments from China. Pillai said he has assured the Chinese vice-minister that India is in the process broadbasing the safety norms for imports from all countries.
Countries that have signed the RCEP agreement can start negotiations with India for joining the pact once New Delhi submits a written request stating its intention for the same, according to a declaration. On November 4 last year, India walked out of mega free trade agreement RCEP (Regional Comprehensive Economic Partnership) as negotiations failed to address New Delhi's outstanding issues and concerns. The remaining 15 member countries have signed RCEP agreement and have stated that the pact would remain open to India.
Overall, cumulative direct investment from China stood at just $2.05 billion till June 2018, according to consolidated DIPP figures
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