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Top leaders of India and China reaffirmed hopes cherished by two nations to maintain peace and tranquility on their borders, and significantly boost their economic and trade ties. President Hu Jintao of China and visiting Indian PM Manmohan Singh held one-on-one meetings in the subtropical island of Hainan, where the two leaders are due to be joined by the presidents of South Africa, Brazil and Russia on Thursday for the BRICS Leaders Meeting. New Delhi and Beijing plan to set up a coordination and consultation mechanism for resolving their border disputes, officials said after the Singh-Hu talks.