China and India will build a new mechanism to discuss trade, investment and services and this was one of the key areas of discussion between Prime Minister Narendra Modi and Chinese President Xi Jinping, the foreign ministry said today. President Xi had arrived on Friday for the second informal summit with PM Modi in Chennai. Since then, the two leaders had more than five hours of one-one meetings. "The two leaders spoke about trade and investment between the two countries. The trade deficit was also spoken about and it was concluded that there will be a new mechanism in place for trade and investment between the two nations," foreign secretary Vijay Gokhale said.