Business
09:07, 08-Sep-2017
China to set up 15 bln USD fund for joint projects with Russia
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China is working for the establishment of an investment fund worth 100 billion yuan (15.3 billion US dollar) to finance regional cooperation projects between China and Russia, Chinese Vice Premier Wang Yang said during the Third Eastern Economic Forum in Vladivostok on Thursday.
The Chinese government encourages enterprises to invest in Russia's Far East and expand cooperation in manufacturing, resources exploitation, infrastructure, agriculture and tourism, Wang said.
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, he added.
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 the region so far.
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Source(s): Xinhua News Agency