Dismissing speculation of any "deal" while resolving the situation, government sources said the two sides have only agreed to sit and talk about the peace and tranquillity along the Line of Actual Control (LAC) while restoring to the status quo in the sector.
In Beijing, Chinese foreign ministry spokeswomen Hua Chunying said, "Following the stand off incident at the border area, China and India with the larger interests of bilateral relations in mind have taken a cooperative and constructive attitude".
The two sides exercised restraint and properly handled the incident through relevant mechanisms, diplomatic channels and border meetings, she said.
In New Delhi, Spokesperson in the Ministry of External Affairs said India and China have agreed to restore status quo along Line of Actual Control (LAC) in Ladakh as it existed prior to April 15.
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The spokesperson also officially announced the two-day visit of External Affairs Minister Salman Khurshid to China from Thursday.
Khurshid and his Chinese counterpart Wang Yi "will discuss bilateral, regional and global issues of concern to both sides. They will also discuss the proposed visit to India of Chinese Premier Li Keqiang," he said.
The sources also dismissed reports that the recent Chinese incursion was a "military affair" and said it was probably done to bring to table Beijing's concerns over India's efforts to build up its defence capabilities along the Ladakh and Arunachal borders.