China to set up 15 bln USD fund for joint projects with Russia

Xinhua Published: 2017-09-08 04:03:31
Comment
Share
Share this with Close
Messenger Messenger Pinterest LinkedIn

China is working for the establishment of an investment fund worth 100 billion yuan (15.3 billion U.S. dollars) to finance regional cooperation projects between China and Russia, Chinese Vice Premier Wang Yang said on Thursday.

Chinese and Russian national flags flutter on a lamppost in front of Tiananmen Rostrum in Beijing. [File Photo: IC]

Chinese and Russian national flags flutter on a lamppost in front of Tiananmen Rostrum in Beijing. [File Photo: IC]

China is ready to increase the scale of the investment fund and suggest the Silk Road Fund finance China-Russia joint programs, Wang said in a speech at a commercial conversation on the sidelines of the Third Eastern Economic Forum in Vladivostok, a major Pacific port city in Russia.

He said the Chinese government encourages enterprises to invest in Russia's Far East and expand cooperation in manufacturing, resources exploitation, infrastructure, agriculture and tourism.

China will work to further facilitate trade and ask its companies to abide by Russian laws and regulations, while it hopes the Russian side will implement its preferential policies and safeguard the lawful interests of Chinese enterprises, Wang said.

He said China is an ideal partner of Russia in its Far Eastern development and both sides can together explore vast opportunities.

According to the vice premier, the two countries have mutual political trust and the two economies are complementary and their development strategies dovetail with each other. 

China is the biggest import source and second largest export destination for Russia's Far Eastern Federal District and Chinese enterprises have invested in 26 projects in this region so far. 

Related stories

Share this story on

Most Popular

Photo

Rural children take free lunch in Guizhou
China's first simulated Mars base to be built in Qinghai
The miraculous mirage on the Hanjiang river in Hubei
Cartoon ninja turtles invade Chongqing street
World wingsuiting competition comes to Zhangjiajie
Unique sculpture of chrysanthemum stone in central China's Hubei

News

China to set up 15 bln USD fund for joint projects with Russia
Sichuan Airlines takes delivery of its first A320neo
Alibaba, Vinexpo to celebrate 2017 Wine and Spirits Festival
SpaceX launches Air Force's super-secret minishuttle
Premier Li, Netanyahu send letters of congratulations to high-tech expo
Online Silk Road to link China, Arab states