The China-India Economic, Trade & Investment Cooperation Summit was held in Beijing, China on Jan. 14, 2008. Chinese Vice-Premier Hui Liangyu and Indian Prime Minister Manmohan Singh attended the summit. Singh said "We will work together with the Chinese government to remove administrative barriers, enforce IPR protection, and simplify regulatory regimes in order to move forward in these areas."

Hui said that bilateral trade volume reached 38.7 billion U.S. dollars in 2007, about 33 times the 1995 figure, with an annual growth of 34 percent. China has become India's second largest trade partner. India is the 10th largest trade partner of China. "The investment between China and India has been expanding, and contracted projects have kept increasing."

The Vice-Premier encouraged the exchanges between industry and commerce circles of the two nations, and called for cooperation in other countries. "We are making efforts to expand and deepen the economic and trade ties between China and India. We also hope to develop new ways of cooperation between the two countries," he added.

Echoing Hui's remarks, Singh said India and China are the world's fastest growing large economies, and economic cooperation between the two has become a principal driver of strategic and cooperative partnership for peace and prosperity.

Singh suggested Indian and Chinese industry and commerce circles should further deepen understanding and cooperation so as to achieve mutual benefits. "Our trade target of 20 billion U.S. dollars by 2008 was reached two years ahead of schedule. The revised target of 40 billion U.S. dollars by 2010 is also likely to be achieved two years ahead of schedule," Singh said.

Some 600 Chinese and Indian senior officials and business people attended the conference.