India-China relations have huge economic potential: Chinese Consul General Zha Liyou

“As two ancient civilizations living side by side for thousands of years, China and India share extensive common interests and have huge potential for economic and trade cooperation and people-to-people exchanges. In the first half year, China-India trade volume hit a record high with a year-on-year increase of 62.7 per cent.

"We should work together to promote the sound development of bilateral economic cooperation for the benefit of our people,” said  Zha Liyou, Consul General of the People’s Republic of China in Kolkata, on the sidelines of hosting an online meet of the Celebration of the 72nd National Day of the People’s Republic of China over Zoom.

"We also need to strengthen people-to-people and cultural exchanges, increase mutual trust, properly manage differences, and firmly stick to the correct direction of China-India relations," Zha added.

Talking about the severe challenges being faced due to the worldly economic downturn,  Zha said that China promotes the resumption of production in an orderly manner, and actively maintains the stability of the global industrial supply chain, which is conducive to world economic recovery.

“China also vigorously enhances the high-quality development of the 'Belt and Road' initiative and provides new development opportunities for the world,” Zha said.

India, however, has declined to be part of China’s ambitious "One Belt, One Road” (OBOR), which is also known as the Belt and Road Initiative (BRI), which  seeks to connect Asia with Africa and Europe via land and maritime networks.

Zha said  China’s GDP has increased 12.7% year-on-year, adding that "scientific and technological breakthroughs continue to emerge." 

Talking about the Indian economy,  Zha said that he is happy to see the Indian economy achieve a record growth of more than 20% from April to June this year despite the effect of the second wave of COVID-19, and is expected to increase by more than 7% throughout the year.

“The rapid economic growth of India not only improves the living standards of Indian people, but also injects new impetus into Asian and global economies. I believe the Indian economy will maintain a good momentum of rapid growth, with great efforts of Indian people,”   Zha added.

He said "although Covid-19 epidemic still prevails and China-India relations are at a low ebb, I firmly believe as long as we work together, we will surely win the battle against the epidemic and usher in a new era for China-India relations."

Several well-known personalities from various political parties, academics, industry and administration graced the online celebration.