Tianjin, Aug. 31 -- Prime Minister Narendra Modi and Chinese President Xi Jinping on Sunday emphasised the need to proceed with a political and strategic direction to reduce bilateral trade deficit, said the Ministry of External Affairs, Foreign Secretary Vikram Misri, while adressing the special briefing on PM Modi's China visit.

"On economic and trade relations, there was recognition of the role that the Indian and the Chinese economies can play in stabilising world trade," Misri said after PM Modi and Chinese President Xi Jinping held a bilateral meeting.

"Both leaders underlined the need, once again, to proceed from a political and strategic direction to reduce their bilateral trade deficit, facilitate bilateral trade and investment...