Economic and Trade Relationship between China and India

agreement, which is renewed in August 1984. Seven yearly trading agreements have been signed in sequence since 1986. The bilateral trade between China and India develops in a rapid pace with trade volume increasing continuously, variety of exchanging commodity gradually expanding, and strengthening of communication between professionals of the two nations.

1. General Trade

According to the statistics of Chinese Custom, the total amount of Sino-Indian trade is 1.83 billion USD, increasing by 30.2% comparing to last year, of which Chinese exportation accounts for 933 million USD, 36 points up comparing to last year, Chinese importation 897 million USD, an increase of 24.7% comparatively. In the year 1998, bilateral trade rises up to 1.92 billion USD, of which Chinese exportation is 1.016 billion USD, importation 905 million USD. Currently, India is the biggest trade partner of China in south Asia. The bilateral trade volume of 1999 is 1.987 billion USD, comparatively increasing by 3.4%.

2. Export and Import Commodity

The principal exports from China to India include raw silk, beans, sheet and paper pulp, rosin, coke, medical product, light industry product, textile product, chemical industry product, food, metal product, machinery facility and etc.

The principal imports from India include iron ore sand, chrome ore, gem, steel, leather, plant oil, southern medicine, raw material for chemical industry, and etc.


II. Economic Cooperation

In the year 1997, China has signed 11 labor contracts as well as consulting agreements¡¡in India, contract value totaling 42.59 million USD, actual fulfillment value 18.79 million USD. In 1998, the number of contracts and agreement climb to 13, with contract value totaling 24.33 million USD, actual fulfillment value 50.87 million USD, and headcount abroad 725.
By the end of 1998, the number of Chinese-Indian joint venture company is 6, of which Chinese investment accounts for nearly 3 million USD.


III. Contractual Labor Cooperation

By the end of 1999, Chines companies have signed a total contractual labor¡¡of 1232 in Cambodia, contract value 279.8 million USD, turnover 116 million USD. In the year 1999, the number of newly signed contracts by Chinese companies in Cambodia is 373, contract value totaling 84.28 million USD, turnover 41.07 million USD.