China, India are 'backbone' of world's multipolarisation, economic globalisation: Xi

President Xi Jinping said China and India are the "backbone" of the world's multipolarisation and economic globalisation, and the two countries should jointly make positive contributions to the global peace and development.

Xi, who hosted an unprecedented two-day "informal summit" with visiting Prime Minister Narendra Modi in the central Chinese city of Wuhan, said that China and India are both important engines of the world economic growth.

"As the two largest developing countries and emerging-market economies with a population level of more than one billion, China and India are the backbone of the world's multipolarisation and economic globalisation," he said.

A good China-India relationship is an important positive factor in maintaining world stability and is of great significance to the promotion of the development of all mankind, Xi was quoted as saying by China's state-run Xinhua news agency.

Socialism with Chinese characteristics has entered a new era and Modi also proposed the goal of building a "New India", he said, adding that on the road to development and revitalisation, China and India face similar tasks.

"We must firmly focus on development, deepen mutually beneficial cooperation, and jointly realise national rejuvenation to jointly create a stable, prosperous and prosperous 21st century in Asia and jointly make positive contributions to the world peace and development," Xi said.

His statement assumes significance amid moves by the west, particularly the US, to take protectionist measures that have hit countries like China and India.

China and India should be good neighbours and good friends. They should regard each other as an "active factor" in the change of world power and be used as a partner to realise their dream of development, Xi said.

The development of China and India is the "trend of the times" and an important opportunity for each other and both China and India should pursue an independent foreign policy, he said.

"We must adopt a positive, open and inclusive attitude and correctly analyse and view each other's intentions," Xi said.

"China and India have many similar ideas in international affairs. When dealing with relations between major powers, China insists on strategic autonomy, insists on not conflict and confrontation, and building a new type of international relationship that is based on mutual respect, fairness and justice, and win-win cooperation.

"This is in line with the five principles of peaceful coexistence (Panchsheel) jointly advocated by China and India in the 1950s," the Chinese President said.

The talks between Modi and Xi focussed on diverse areas of India-China cooperation.

The 'heart-to-heart' summit between Modi and Xi is being seen as an effort by India and China to rebuild trust and improve ties that were hit by the 73-day-long Dokalam standoff last year.