Keynote Speech by Ambassador Xu Feihong at the “India–China Business Summit 2025”
（12th December, 2025, New Delhi）
Dear Mr. Jitendra Joshi, President of GIBF ,
Dear Friends, Ladies and Gentleman,
Good morning！Namaste！
It gives me great pleasure to attend the “India-China Business Summit”. On behalf of the Chinese Embassy, I would like to extend my sincere greetings to all the distinguished guests and my heartfelt thanks to the GIBF for bringing this summit together. Over the years, the business communities of China and India have played a key role in driving the economic and trade ties. At this critical juncture in China-India relations, I hope the business communities of both countries will strengthen cooperation and exchanges, seize the opportunities of China’s high-standard opening up, and contribute to the development of our bilateral relations.
Dear friends,
Opening up has become a defining feature of Chinese modernization. Adhering to openness and win-win cooperation, China has developed itself and benefited the world. From 2013 to 2024, China’s imports of goods and services totaled 31.4 trillion US dollars, and its outbound direct investment reached 1.9 trillion US dollars. China’s super-sized market, as the world’s second-largest consumer and import market, serves not only as the strategic foundation for Chinese modernization but also as a key anchor for the global economy..
In October, the Fourth Plenary Session of the 20th Central Committee of the Communist Party of China (CPC) was successfully convened in Beijing. The most significant achievement of the meeting was the adoption of “The Recommendations of the Central Committee of CPC for Formulating the 15th Five-Year Plan for National Economic and Social Development”. The Proposals for the 15th Five-Year Plan clearly state that “promoting high-standard opening up”, “working faster to turn China into a strong trading nation” and “creating new horizons for mutually beneficial cooperation”. Those strategic plans send a strong message to the world, demonstrating China’s firm commitment to sharing the dividends of openness and pursuing common development with all countries.
Ladies, gentlemen, friends:
Today, the world is witnessing widening development deficits, a growing North-South divide, and dwindling momentum for international cooperation. China’s policy of expanding high-standard opening up is a timely move in line with the trend of history and is forming a strong synergy for global economic growth.
It is China’s major initiative to promote economic globalization. Opening-up is the only path to prosperity and development. as economic globalization is an irreversible trend of our time. China’s promotion of high-standard opening up will help build up broad consensus and foster a favorable environment for global trade, investment and development cooperation, thereby generating a strong positive force to advance economic globalization. We share with India in the promotion of economic globalization and stand ready to work with India to improve the global economic governance system and push for a universally beneficial and inclusive economic globalization.
It is an important step to promote South-South cooperation and the development of a united and self-strengthening Global South. Multilateralism is the shared aspiration of the people and the overarching trend of our time. Due to the tariff barriers and “decoupling” policy of certain country, the world is increasingly threatened by unilateralism and protectionism, posing serious challenges to developing countries. As the two largest developing countries, China and India share the aspiration to promote cooperation and development in the Global South. Strengthening mutually beneficial cooperation between the two countries will surely help achieve the goal.
It presents a historic opportunity for China and India to deepen cooperation. As ancient Eastern civilizations and major developing countries, both China and India are facing a historic opportunity for national rejuvenation. During the period of the 15th Five-Year Plan, China will advance Chinese modernization on all fronts through high-quality development to ensure that by 2035, we will basically achieve socialist modernization. India is also making progress toward its vision of Viksit Bharat 2047. The two countries enjoy broad prospects for aligning development strategies and jointly advancing modernization. In the coming five years, China will continue to consolidate the foundation of the real economy, upgrade traditional industries such as chemicals and machinery, foster emerging industries such as new energy and new materials, and unlock a potential market of 1.4 trillion US dollars. This will make the pie of common interests bigger and deliver more benefits to our peoples.
Dear friends:
Since the Kazan meeting between H.E. President Xi Jinping and Hon. Prime Minister Narendra Modi in October last year, China-India relations have continued to improve. The foreign ministers of the two countries have exchanged visits. Increasingly close exchanges in various fields have been carried out. According to India’s Ministry of Commerce and Industry, in the first nine months of this year, the bilateral trade between China and India grew 11.95 percent year on year to 104 billion US dollars. Since April this year, India’s monthly exports to China have increased by more than 22% year on year. China has resumed the pilgrimage for Indian people to Kangrínboqe and Mapam Yuco (Kailash Manasarovar Yatra) in Xizang Autonomous Region, and India has resumed tourist visas issuance to Chinese citizens. Direct flights between Chinese mainland and India have been restored. These measures have been warmly welcome by the peoples of both countries. The two leaders met in Tianjin this year, which charted the course for the improvement and development of bilateral relations.
As the world’s only two major developing countries with a population of over one billion, our industries are highly complementary, and our economic and trade cooperation has maintained steady and sound growth. In a world facing sluggish economic recovery and rising global trade challenges, it is strongly believed that the synergy of the two markets will generate a “One plus one is greater than two” effect. China is ready to deepen practical cooperation with India. We welcome more premium Indian goods to export to China and more Indian companies to invest and do business in China, as well as to share the dividends of China’s opening up. We also hope that the Indian side will provide a fair, transparent and non-discriminatory business environment for Chinese companies, further expand bilateral mutually beneficial cooperation, and bring more benefits to the two countries and peoples.
Dear friends, ladies and gentlemen:
The 21st century should be an era of faster development and revitalization for Asia. Under the strategic guidance of our two leaders, China and India should become good-neighborly friends and partners that help each other succeed, expand economic and trade cooperation, jointly advance inclusive and beneficial economic globalization, and inject strong impetus into our modernization drive. Together, we can open a new chapter of the Dragon-Elephant Tango.
In closing, I wish the summit a great success.
Thank you all! Dhanyawad!