China and India say they have agreed to take steps to reduce tensions on the Himalayan border and restore “peace and order” following a high-level diplomatic meeting in Moscow.
According to Reuters, Chinese State Councilor Wang Yi and Indian Foreign Minister SJ Shankar said in a joint statement after a meeting in Moscow on Thursday that a five-point agreement had been reached and agreed that the current The border situation is not in their interest and the armies of both sides should immediately reduce the tension.
The agreement was reached on the sidelines of the SCO summit, following a clash between Indian and Chinese forces in the western Himalayan border region this week.
Following the news, shares of defense-related companies fell in the Chinese stock market today, with the CSI National Defense Industry Index falling 1.2 percent.
The fall in share prices is said to be the fastest weekly decline since the 16.4% decline on October 12, 2018, which is likely to fall further.
China and India have accused each other of firing in the air during the confrontation, in violation of a long-standing protocol not to use weapons in the border area.
The Chinese Foreign Ministry said in a statement on Friday that Wang Yi had told SJ Shankar during the meeting that “provocations must be stopped immediately, including firing and violations of promises made by both sides.” Other dangerous acts are involved.
Wang Yi also said that all personnel and equipment brought to the border should be evacuated and that border troops on both sides should “immediately withdraw” to reduce tensions.
The Chinese newspaper Global Times, an influential newspaper published by the official newspaper of China’s ruling Communist Party, reported on Wednesday that the People’s Liberation Army (PLA) had deployed military, bombers and armored vehicles across the border. Moving to
Chinese state media also recently reported an increase in PLA paramilitary forces in Tibet.
The Global Times, in an editorial published on Thursday, said that any talks with India should be linked to “war preparations”.
“China must be fully prepared for military action if it fails to intervene diplomatically and its frontline troops must be able to respond to emergencies,” the paper said.