SPECIAL GUEST EDITORIAL Hand in hand for a Shared Future
H.E. Mr. Xu Feihong
Ambassador of the People’s Republic of China
to the Republic of India
On behalf of the Chinese Embassy in India, I would like to express my heartfelt congratulations on UDYOG VIHAR for publishing special edition on China. I would also like to extend my sincere greetings to friends from all walks of life for supporting China India relations.
As President Xi emphasized in his meeting with Prime Minister Modi, China and India both stand at a crucial phase of their respective modernization endeavours, and development is now the biggest shared goal of China and India. China is advancing the rejuvenation of the Chinese nation on all fronts through Chinese modernization. India has also put forward the vision of “Viksit Bharat 2047”. The two countries have broad prospects for cooperation, should contribute to each other’s success.
We should promote closer economic and trade ties. In the first three quarters of 2024, China’s GDP grew by 4.8%, ranking as the second-largest economy in the world. We are confident of achieving annual growth target of 5%. China is not only the world’s “big factory” but also the world’s “big market “with 400 million middle-class people. China’s overall tariff level has dropped to about 7%, close to the level of WTO developed members. In the first 11 months of 2024, China’s import volume has reached 2.3 trillion. China is India’s largest trading partner, the bilateral trade volume reached 136.2 billion USD last year. Recognizing the significance of China’s enormous market, India’s high-quality products will have broad business opportunities in China. In Fiscal Year 2024, Indian chili, iron ore and cotton yarn have achieved an increase of more than 17%, 160%, and 240% in exports to China. China welcomes more Indian companies to make full use of platforms such as the China International Import Expo to export more Indian high-quality products to China.
We should promote closer business cooperation. Chinese companies in India have invested in agriculture, manufacturing and service sectors, making important contributions to local development and exports. Many Indian companies have also invested in China. The Third Plenary Session of the 20th CPC Central Committee proposed that all restrictions on foreign investment in the manufacturing industry be removed comprehensively, and foreign companies be encouraged to participate in Chinese upstream and downstream supply chains. Indian companies can enhance “Made in India” by “investing in China”. At the same time, the industrial structures of China and India are highly complementary. India has a competitive edge in IT, software and biomedicine, while China is seeing rapid expansion in electronic manufacturing and emerging industries. India is in a major drive to improve infrastructure, where China has rich experience. Both companies, if connected, will produce an effect of“1+1=11”. It is hoped that India will lift its restrictions on investment and government procurement against neighbouring countries to promote common development of industries and benefit the people of the two nations.
We should promote closer cultural exchange. Amity between the people holds the key to state-to-state relations. Relaxing visa restrictions and resuming direct flights will enhance people-to-people exchanges and bring the relationship between the two nations back to sound and steady development at an early date. In 2024, the number of Chinese outbound tourists is expected to reach 130 million. India should not miss this opportunity. Meanwhile, Indian movies have sparked several waves of fever in China. “Dangal” tops Chinese box office, earning nearly1.3 billion yuan. Recently, the Tamil film “Maharaja “has made a record-breaking debut in China. Indian movies appeal to Chinese audiences because of similar cultural values. Humanistic care and profound feelings transcend borders. China and India can strengthen cooperation in the movie sector and promote mutual understanding between the two peoples.
2025 marks the 75th anniversary of the establishment of diplomatic relations between China and India. Standing at a new starting point, we should uphold important understandings, such as China and India are each other’s development opportunity rather than threat, and cooperation partner rather than competitor, adhering to the principles of mutual respect, mutual understanding, mutual trust, mutual accommodation and mutual accomplishment. I firmly believe that we have enough wisdom and capabilities to forge a right path for two neighbouring countries to live in harmony and develop together!
