This article argues that in contradiction to the conventional wisdom that the Sino-Indian rivalry is one-sided (with only India viewing China as a rival); China has always factored India in its strategic calculus. The Sino-Indian relationship is asymmetric only to the extent that while India regards China as its ‘principal rival’, China considers India as only one of its (many) ‘strategic rivals’ as opposed to the principal one. This article also analyses articles related to India published in English-language Chinese journals in recent years. The analysis shows that China has now begun to regard India as a major emerging power and an important player in the emerging strategic architecture of the Asia-Pacific region (as opposed to a mere South Asian player).