China, India reach six-point consensus on boundary question

China and India's special representatives on the boundary question held the 23rd meeting in Beijing on Wednesday and reached a six-point consensus.

During the meeting, the first of its kind in five years, both sides agreed to continue taking measures to safeguard peace and tranquility in the border areas and promote the healthy and stable development of bilateral relations. They will continue seeking a package of solutions to the boundary question that is fair, reasonable and acceptable to both in accordance with the political guiding principles reached in 2005, according to the consensus.

They also agreed to further refine the rules for border area management and strengthen the construction of trust-building measures, to continue enhancing cross-border exchanges and cooperation to promote the resumption of Indian pilgrims' visits to China's Xizang, and to further strengthen the construction of the special representatives meeting mechanism.

A new round of the special representatives meeting will be held in India next year, according to the consensus.

Both sides emphasized the importance of a stable, predictable, and sound China-India relationship for international and regional peace and stability.

China's special representative Wang Yi, also a member of the Political Bureau of the Communist Party of China Central Committee and director of the Office of the Central Commission for Foreign Affairs, said that the leaders of the two countries met in October in Kazan, Russia, reaching important consensus on improving and developing bilateral relations, which set the course and direction for the recovery and development of China-India relationship at a critical moment.

Wang said both sides should, in the spirit of summarizing experience, looking to the future, and seeking win-win cooperation, place the boundary question in the appropriate position of bilateral relations, jointly maintain peace and tranquility in the border areas, and promote an early return of China-India relations to a healthy and stable development track.

India's special representative and National Security Adviser Shri Ajit Doval said that both India and China have common interests and similar views, and it is necessary to coexist peacefully and develop together.

Doval said with the joint efforts of both sides, the issues related to the border areas have been properly resolved over the past five years, which is of great significance. The Indian side is willing to maintain pragmatic attitudes and effective communication with the Chinese side and continuously accumulate conditions for ultimately resolving the boundary question.

China, India reach six-point consensus on boundary question

China's Macao Special Administrative Region is looking to diversify its economy beyond its flourishing tourism sector and harness the various advantages from its geographic location in the Greater Bay Area, according to a business leader in the region.

Kevin Ho King Lun, director of the Industry and Commerce Association of Macao, said the region has punched well above its weight economically but is now aiming to further develop through pursuing a "1+4" economic diversification strategy.

The five-year plan, which is scheduled to run through to 2028, will continue to build on its strong tourism and leisure sector while promoting four core industries, namely health and wellness, modern finance, high-tech, and a broader sector which includes exhibitions, commerce, culture and sports.

"Macao is a relatively small economy, with only 680,000 people [and an area of] 33 square kilometers, we are having roughly 400 billion [yuan] in GDP. That gives Macao a very stable economy. For us to transform into a new economic module, apart from already a very successful and prosperous tourism sector, but we have been relying too heavily on the tourism. So we need to start to diversify it. Now we have the '1+4' transformation. From tourism, we need to add in modern finance, we need to add in high-tech businesses, and we need to [also grow] a greater health industry. We are small, but we are flexible," said Ho.

Ho believes that region's positioning as part of the Greater Bay Area -- a major city cluster and vibrant economic region which comprises Hong Kong and Macao, and nine cities in south China's Guangdong Province -- will also enable its service and financial industries to benefit significantly, as Macao integrates further with the mainland.

He also believes the integration of Macao with major economic centers like Shenzhen and Hong Kong -- one of the world's top financial hubs -- will significantly boost the region's global competitiveness.

"Service industries, the finance industry will perform better in the Greater Bay Area, because we have Shenzhen, we have Hong Kong. We have to better utilize the finance and the modern finance breakthrough, so that we are more in the level playing field amongst the world. Macao, as a service industry, we can utilize Macao to attract many more international forums, exhibitions into Hong Kong, Macao and the Greater Bay Area. If we can break through the borders, I think we will have the best places for anywhere in the world to perform shows, to do forums, to attract really high-end business people into our Greater Bay Area," said Ho.

Macao aims to diversify economy beyond tourism sector: business leader