[Image courtesy of www.thisismoney.co.uk]
On 14 April, Chinese President Hu Jintao will meet with top leaders from Brazil, Russia, India and South Africa on the southern Chinese island-province of Hainan.
Discussions will cover economic, financial and security concerns. The summit is the third "BRIC" summit and the very first to include South Africa. Pleae read more here.
According to a short statement released by China's Ministry of Commerce, "The BRICS leaders will exchange views on international developments and economic, financial and development issues, and will also plan future cooperation among the BRICS countries."
India's Prime Minister Manmohan Singh is travelling to China today on an official visit as the two countries aim to deepen their economic ties. Mr. Singh will also attend the BRICS summit on 14 April. Please read more here.
In December 2010, China and India agreed to nearly double bilateral trade to $100 billion (£66 billion) by 2015, up from $60 billion in 2010, during Chinese Premier Wen Jiabao's visit to India. Mr. Wen traveled to India with a delegation of 400 Chinese business leaders, and $16 billion worth of business deals were signed.
With China and India accounting for 36.7% of the world's population and 10.4% of global trade, bilateral ties between the two countries hold significant implications for the rest of the world, especially given the fact that both have been playing a crucial role in driving the global economic recovery.
In 2010, India grew by 9.7% and China by 10.5%, significantly outpacing the rest of the world which grew by 4%. Read more here.
However, regional political tensions between China and India, including border disputes and China's perceived close relationship with Pakistan, are a potential barrier to the deepening of bilateral economic ties.
China Direct would like to thank Policy Analyst Ben Cooper for preparing this report.