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Surveys across Asia showed industry struggling with slack demand.
Russia and China have set a bilateral trade target of $200 billion by 2020.
Market-economy status for China would ensure the EU uses Chinese data for trade probes affecting the second largest economy in the world.
The Philippines has a dispute with China over territorial claims in parts of the South China Sea.
Despite slowing growth, China is on the move consolidating its position as a global economic power.
Officials dismissed concerns over technology firms having "backdoors" installed or losing intellectual property rights as unfounded.
Industrial profit fell 1.4% on year in November, narrowing from a 4.6% decline posted in October.
On Friday, Modi made an unexpected stop in Pakistan on his way to New Delhi from a visit to Afghanistan.
Founding members include the BRICS, half of the European Union and all of the Asian bloc, ASEAN.
The EIB is a member of the official working group set up by the EU and China to boost bilateral investment.
