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China-India border trade booms

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(GlobalPost/GlobalPost)

LHASA, Dec. 11 (Xinhua) -- China-India border trade in Renqinggang market in southwest China's Tibet Autonomous Region posted a 23.3 percent rise in 2013, local authorities said Wednesday.

Renqinggang saw trade volume reach 86.8 million yuan (about 14.3 million U.S. dollars), about 54 times that when the post reopened in 2006, a spokesman with the region's commercial department said.

Imports totaled 72.4 million yuan while exports were a mere 14.5 million yuan, official statistics suggests.

The Yadong customs was set up in May 1962, but was closed in October in the same year. China and India restarted border trade on July 6, 2006 through the Nathu La Pass, which sits 4,545 meters above sea level and is wedged between Yadong County of Tibet's Xigaze Prefecture and India's Sikkim State.

They also opened two border trade markets - Renqinggang market in Yadong and Changgu mart in Sikkim. The Renqinggang market opened on May 1 and was closed on Nov. 30, this year.

http://www.globalpost.com/dispatch/news/xinhua-news-agency/131211/china-india-border-trade-booms