Chinese Ministry of Commerce: Willing to further expand trade and investment cooperation between China and Russia
According to the Chinese Ministry of Commerce on the 23rd, Ling Ji, Deputy Minister of Commerce and Deputy Representative for International Trade Negotiations, recently stated that China is willing to further expand trade and investment cooperation between China and Russia.
On August 21st, the leaders of the Standing Working Group on Economic and Trade Cooperation and Special Economic Zones Cooperation between China and Russia on the Border Region, Ling Ji, and Deputy Minister of Economic Development of Russia, Volivac, held work talks in Beijing.
Ling Ji stated that in order to meet the growing needs of trade between the two countries, he hopes that both sides will increase their efforts in border port infrastructure construction and further improve the level of connectivity. China is willing to further expand local trade and investment cooperation between China and Russia, adding development momentum to bilateral economic and trade cooperation.
Volivach stated that the economic and trade cooperation between Russia and China on the border is fruitful and has great potential. Russia is increasing investment, transforming existing ports, continuously improving cargo handling capacity, and actively improving the business environment in the Far East, striving to create favorable conditions for Chinese enterprises to invest and develop in the Russian Far East.
Since the beginning of this year, trade between China and Russia has developed rapidly. According to official data, the trade volume between China and Russia increased by 46.3% year-on-year in the first seven months, with China's exports to Russia increasing by 86.3% year-on-year and imports from Russia increasing by 23.1% year-on-year.
On August 22, entrusted by the leaders of both sides, the person in charge of the Eurasian Division and representatives from the Russian side jointly held the third plenary session of the working group in Harbin. About 80 representatives from government departments, local governments, and enterprises from the two countries attended the meeting to exchange ideas on topics such as expanding trade and investment, facilitating cross-border channels, and strengthening cooperation in parks and exhibitions.