India-China Hold Dialogue To Strengthen Cooperation In Financial Sector
Narendra Modi, India’s prime minister, right, shakes hands with Xi Jinping, China’s president, in New Delhi, India. (Photographer Graham Crouch/Bloomberg)

India-China Hold Dialogue To Strengthen Cooperation In Financial Sector

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India and China on Wednesday held "financial dialogue" to boost cooperation in areas like macroeconomic policy, investments, multilateral framework, among others.

The 9th India-China Financial dialogue was held in New Delhi and a high-level Chinese delegation led by Zou Jiayi, Vice Minister, Ministry of Finance, China, interacted with the Indian delegation led by Economic Affairs Secretary Atanu Chakraborty on wide-ranging issues of mutual interest, according to a joint statement.

The India-China Financial Dialogue is a mechanism between the two countries with an aim to promote cooperation in the financial sector.

India and China bilateral relationship has entered into a new era after the historic informal summit between Prime Minister of India Narendra Modi and China's President Xi Jinping held in Wuhan in April 2018.

During this dialogue, both sides had in-depth exchange of views on macroeconomic situation and policy, cooperation in multilateral framework, bilateral investment and financial cooperation, it said.

Both sides also committed to promote a favourable environment to enable continuous growth of bilateral trade and investment, strengthen their efforts to promote more balanced and healthier development of trade and economic cooperation and further enhance the closer development partnership between two countries, it said.

A joint statement was issued at the conclusion of the financial dialogue reflecting the mutual understanding and shared vision of both the countries to further strengthen cooperation in the financial sector, it said.

The next round of India-China Financial Dialogue is to be held in China, it added.

Also read: India Is The Best Alternative To China Amid Trade Tensions, Says JPMorgan’s Sullivan

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