Note: The following article is taken from the Chinese-language "Commentaries on International Affairs".

Chinese President Xi Jinping and Indian Prime Minister Narendra Modi held an informal meeting in India on Friday and Saturday. Both leaders agreed that China and India should respect and learn from each other, and achieve development and prosperity together in order to realize the rejuvenation of these two great civilizations.

Chinese President Xi Jinping meets with Indian Prime Minister Narendra Modi in the southern Indian city of Chennai, Oct. 11, 2019. [Photo: Xinhua/Ju Peng]

In April of last year, President Xi invited Prime Minister Modi to Wuhan in central China where their first informal meeting took place. Differences between the two countries have been well-managed after that important summit.

China and India have a lot in common in terms of their population, economy, history and culture. During their meeting in India this week, Xi and Modi exchanged in-depth views on matters such as strategic security management, investment, people and culture exchanges, as well as international and regional cooperation. They mapped out a clear plan for the development of China-India bilateral cooperation from a strategic point of view.

First, the two leaders acknowledged that the correct viewing of each other’s development and the enhancing of strategic mutual trust are key to maintaining continuous and stable advancement of bilateral relations. China and India cannot let disputes get in the way of their broader cooperation plans, and should handle properly their disputes and matters that are sensitive in nature. They should look for a fair solution to their border issues that is acceptable to both sides and improve their military security cooperation.

Second, China-India economic cooperation has great potential. China is currently India’s largest trading partner and India is China’s largest partner in trade in southern Asia. Addressing concerns that India may suffer big trade deficits against China, both Xi and Modi agreed to set up a high-level trade dialogue mechanism with the aim to facilitate communication between their country’s economic development strategies, and to explore the possibilities of expanding their trade partnership. India welcomes more Chinese companies to invest in its industries such as manufacturing.

In the event of the 70th anniversary of the establishment of diplomatic ties between China and India, President Xi and Prime Minister Modi pledged to hold cultural and people-to-people exchanges on a bigger scale to encourage more dialogue between different civilizations.

The coordinated peaceful rise of China and India will become one of the most important events in the 21st century. As long as both countries steer their bilateral relations with a strategic mind, they can properly handle their disputes and find the greatest common denominator of their mutually beneficial development.