India, China to coordinate policy action in facing common external challenges

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New Delhi, Dec 19: India and China have agreed to co-ordinate policy action in facing common external challenges and strengthen co-operation amongst Financial Sector Regulatory Agencies during the seventh Financial Dialogue held here on Friday.

According to a Joint Statement issued at the end of the India-China Financial Dialogue, the two countries reviewed the prevailing global macro-economic situation and agreed to coordinate policy action in facing common external challenges.

Both sides underscored the need to strengthen cooperation under multilateral frameworks and fora. India and China exchanged views on fiscal and taxation reforms.

They agreed to strengthen co-operation amongst financial sector regulatory agencies and encourage long-term Chinese investments in the Indian infrastructure sector.

A high-level Chinese delegation led by Yu Weiping, Assistant Minister in the Ministry of Finance in China, represented his country, while the Indian delegation was led by Dinesh Sharma, Additional Secretary in the Department of Economic Affairs, Ministry of Finance.

The eighth round of India-China Dialogue would be held in China in 2015.

(With Agency Inputs)

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