China pledges $500
mn for infrastructure development in India
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 an hour-long talk
between Prime Minister Atal Bihari Vajpayee and his Chinese
counterpart Wen Jiabao at the Great Hall of the People.
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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