China, India issue joint statement

Chinese Premier Li Keqiang shakes hands with India's Prime Minister Manmohan Singh (R) during a photo opportunity ahead of their meeting at Hyderabad House in New Delhi May 20, 2013. Li on Sunday arrived in New Delhi for a three-day state visit. [Photo/Xinhua]

NEW DELHI - China and India issued a joint statement Monday highlighting their commitment to expanding common ground in bilateral cooperation and coordination in various fields.

The statement, released during Chinese Premier Li Keqiang's ongoing visit here, said the two Asian giants have a historic opportunity for economic and social development and the realization of this goal will advance peace and prosperity in Asia and the world at large.

Premier Li visits four countries

"The two sides welcome each other's peaceful development and regard it as a mutually reinforcing process," said the document. "There is enough space in the world for the development of China and India, and the world needs the common development of both countries."

While striving to realize the trade turnover target of 100 billion U.S. dollars by 2015, the two countries agreed to take measures to address the issue of the trade imbalance, including cooperation in pharmaceutical supervision and completion of phytosanitary negotiations on agro-products.

The two sides also expressed willingness to carry out cooperation on establishing industrial zones so as to provide platforms for cluster-type development of enterprises of the two countries.

Moreover, they agreed to strengthen cooperation between their financial regulators, and support their banking institutions in setting up representative offices, branches or subsidiaries, and carrying out business activities subject to relevant laws and regulations.