From May 14 to 16, Indian Prime Minister Modi will be his first official visit to China after taking office, which is also an important high-level interaction between the two countries after Chinese President Xi Jinping's visit last September. With "one belt one road" strategy’s further development and India into AIIB, Modi's visit sparked widespread concern of overseas media. Among them, the high-speed rail cooperation and the trade deficit cut has become a hot topic in the field of economy and trade.
Reuters reported that China was conducting a feasibility study on the high-speed rail project, and asked India to start a pilot project in some sections. New Delhi to Chennai high-speed rail project will cost $36 billion. "Both sides also agreed to accelerate to implement the planned Chennai-to-Bengaluru high-speed rail corridor. Since Modi wants to updat India’s crumbling railway system which every day 25 million people used, China may get this opportunity."
Agence France Presse reported that Indian Prime Minister Narendra Modi would visit China next week, aimed at balancing the trade deficit with China. It reported that China is India's largest trading partner, the two-way trade volume approached 70 billion US dollars (about 434.36 billion yuan). However, according to Indian statistics, India's trade deficit with China has soared from $ 1 billion (about 6.21 billion yuan) (2001 to 2002) to over 40 billion US dollars (about 248.2 billion yuan)
The report quoted the expert opinion that Modi must achieve the bilateral trade target towards $100 billion through seeking more Chinese market this year, thus eliminating the trade deficit.
Le Yucheng, Chinese ambassador to India, also said that the two countries would sign an cooperation agreement worth $10 billion.
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