China-Russia economic partnership is upgrading
Updated 22:12, 14-Sep-2018
By CGTN’s Du Zhongyan
02:10

The Eastern Economic Forum (EEF) in Vladivostok, Russia has opened its doors to international guests on Tuesday. The forum is expected to draw billions of dollars in investment this year and is also part of Russia's broader strategy to "pivot to Asia."

Since its launch in 2015, cooperation between China and Russia has always been a key part of the forum. “Both China and Russia need such a platform to communicate, make decisions and sign agreements. And the state visits during the forum are meaningful. That's why I think the forum is very important. In my point of view, the relations between Russia and China in recent years are significant to the two countries, especially under the difficulties in terms of macro-economics and politics,” said Sergey Gorkov, the deputy minister at economic development of Russian Federation.

VCG Photo

VCG Photo

Actually, a group of Russian and Chinese businesses says it's considering 73 joint investment projects worth more than 100 billion US dollars. Meanwhile, the Russia-China Investment Fund and China's Tus-Holdings on Tuesday announced joint plans to invest 1.3 billion US dollars in the Russian Tushino Project Technology Park.

Alexei Chekunkov, CEO of Far East Development Fund said Chinese and Russian companies will cooperate under the framework of the Belt and Road Initiative. “Chinese President Xi Jinping's attendance at the forum will deepen the cooperation of the two countries in Russia's far eastern region. Also, the cooperation in China's northeast would be injected with new economic power.”