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China, Russia pledge to expand investment cooperation

Updated: Jun 24,2016 7:06 PM     Xinhua

Vice Premier Zhang Gaoli (R) meets Russia’s First Deputy Prime Minister Igor Shuvalov in Beijing on June 24, 2016. [Photo/Xinhua]

BEIJING — China and Russia on June 24 pledged to further expand two-way investment cooperation to boost bilateral relations.

The pledge came out of the third meeting of the China-Russia Investment Cooperation Committee, co-chaired by Vice Premier Zhang Gaoli and Russia’s First Deputy Prime Minister Igor Shuvalov in Beijing.

The main task of the meeting is to prepare for the investment cooperation to be discussed when the two state leaders meet in Beijing on June 25, according to a press release from the Chinese Foreign Ministry.

The two sides reviewed the results already achieved since the second meeting, and determined some new investment cooperation projects. They agreed to speed up the synergizing of the Belt and Road Initiative with the Eurasian Economic Union; give full play to the two sides’ market advantages, resources, technology and talent; create more normative and favorable conditions; and jointly explore markets in third countries, the press release said.

China and Russia, both emerging economies with open development strategies, share good foundations and prospects for further investment cooperation, Zhang said.

He called on the two countries to strengthen policy communication and coordination, discuss new measures to expand two-way investment cooperation, provide better conditions for companies from the two countries, and forge more cooperation projects.

Shuvalov said Russia is willing to actively promote two-way investment cooperation with China, and hopes to determine and implement more projects through the committee, so as to promote the common development of the two countries.