Visiting Chinese President Xi Jinping has delivered a keynote speech at the Eastern Economic Forum in Russia. He said Beijing fully supports Russia's determination to develop its Far East region and encourages more businesses to participate. Wang Tongxuan has more.

The Russian Far East is more than 6000 kilometers away from Moscow. But the city of Vladivostok is merely 50 kilometers from the Chinese border. The city enjoys good trade opportunities with neighboring China as well as South Korea and Japan.

VLADIMIR PUTINRUSSIAN PRESIDENT "Development of the Far East is an absolute priority for us. I would like to repeat that this is a consistent long-term policy. Our efforts are aimed to create here in the dynamically growing Asia Pacific region a strong center for international cooperation and integration, business and investment activities, education, science and culture. Creation of such a hub first and foremost is in the interest of the citizens of Russia."

This is the first time President Xi has attended the forum.

XI JINPINGCHINESE PRESIDENT "With the Russian side, we will make our contribution to the development of infrastructure, energy, agriculture, tourism. We will mobilise small and medium size businesses, make sure there's a greater high-tech contribution to the economy, and make sure that the share of added-value production is growing. We should learn from each other and make contributions to growth in China and in Russia's Far East."

Energy has been one of the main pillars of extensive cooperation between Moscow and Beijing.

Over the years, Russia has become China's biggest source of both crude oil and electricity, and the fifth largest source of coal.

They are also collaborating on several ambitious projects, including the China-Russia East-Route Natural Gas Pipeline, which will send up to 38 billion cubic meters of gas annually from Russia to China.

China's Silk Road Fund is also financing a big Russian liquefied natural gas project. Over time, the forum has become a popular platform where direct dialogue is held between politicians and public figures, businesspersons and experts.

More than 60 countries including China, Japan, the United Kingdom, Germany and Canada are attending this year's forum. WTX, CGTN.