Chinese Mandarin - China, Russia to expand investment co-op

?  ?

BIZCHINA / Center

China, Russia to expand investment co-op

(Xinhua)
Updated: 2007-09-21 14:24

China and Russia will further promote two-way investment in a bid to
strengthen ties between the two soaring economies, senior trade officials
said?in Russian city of Sochi on?Thursday.

"China-Russia cooperation in various fields is expanding while the
cooperation mechanism keeps improving," Ma Kai, Chinese minister in
charge of the National Development and Reform Commission (NDRC), told an
investment-promotion conference at the Black Sea resort.

Chinese investment in Russia has grown annually by 100-160 percent since
2004, Ma said, noting that the two countries have inked agreements on 24
projects valued at US$3 billion.

Progress has also been made in cooperation in forestry, infrastructure,
the processing industry, the high-tech sector, as well as in the
agriculture and energy sectors, Ma noted.

He suggested devising plans for future cooperation, and that delegates
take advantage of the conference to facilitate two-way investment and
provide preferential policies.

Russian acting Minister of Economic Development and Trade German Gref
spoke highly of the conference, saying Chinese companies are welcome to
invest in Russia, especially in energy, forestry, industry, the high-tech
sector, transportation and the Sochi Winter Olympics projects.

China's direct overseas investment reached US$21.16 billion last year,
ranking 13th in the world.

Some 10,000 Chinese-funded companies had been established in 172
countries and regions by the end of 2006, official figures showed. Hong
Kong, the United States, Russia, Japan, the United Arab Emirates,
Vietnam, Australia and Germany were the most popular on the destination
list.

(For more biz stories, please visit Industry Updates)

Related Stories ?

� China to maintain sizeable trade surplus for some time
===========================================================================
� Russia gets ready to supply power to China
===========================================================================
� Trade and investment boom
===========================================================================

Learn Chinese, Chinese Mandarin