'Chindia' has great potential (2)

Premier Li Keqiang arrived in India on Sunday for the first leg of his maiden foreign visit as premier. China expects the visit will further enhance the strategic and cooperative partnership for peace and prosperity between the two countries and expand cooperation in mutual investment, bilateral trade and the infrastructure sector to complement each other's advantages for win-win results, Vice-Foreign Minister Song Tao said.

Compared with the fast-expanding trade volume, mutual investments between China and India are still small, Hu said.

"India is well developed in services, including IT and software, and the future is promising for the two countries to set up joint ventures and increase mutual investments as well as trade in services, which will ease trade imbalances. The joint ventures can build up our own brand of 'Chindia' and set up our own quality standards. Together we have a market of more than 2.7 billion customers and can test any new product," he said.

He added that the best choice is that China's giant companies cooperate with Indian consortiums and gradually advance the regional reforms in India and improve the investment environment.

"China's strength in manufacturing, if supported by India's software, will create shining prospects for the two countries in advanced manufacturing, especially in intelligence. China-India cooperation can also be conducted in many sector, including new energy, new materials, resource conservation and environmental protection," Hu said.