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China wants to correct trade imbalance with India

China’s President Hu Jintao has told India’s Prime Minister Manmohan Singh that his country wanted to correct the trade imbalance between the two countries. China has a "huge surplus" of trade in its favour with India – to the tune of USD15.8 billion – which is a concern for India.

Trade between India and China has jumped substantially from USD1 billion in 2001 to USD52 billion in 2008, and the two sides are aiming to reach USD60 billion.