NEW : China and India have a new system for cooperation on their border . Chinese diplomat says there is a huge potential for cooperation . The countries have border disputes dealing with an area near Jammu and Kashmir . China is India 's largest trading partner .
NEW : China and India announce a new system for consultation on their border . Chinese diplomat says there is a huge potential for cooperation . The two have border disputes dealing with an area near Tibet and Kashmir . China is India 's largest trading partner .