China has announced the setting up of a China India Business Council, new trade body to promote and coordinate Chinese investments and businesses with India.
The council was set up by China Council for the Promotion of International Trade (CCPIT) and will be based in China’s Hunan province.
The Council also plans to open offices in New Delhi and Hyderabad to promote and coordinate Chinese investments in India which are on the rise in recent years.
The bilateral trade between India and China stood at USD 70,71 billion in 2015-16.
The total import and export volume of China, the world’s biggest trader, stood at 24.59 trillion yuan in 2015.