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Russia plans to offer Chinese investors participation in joint projects

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Russia plans to offer Chinese investors participation in joint natural resources projects and is ready to give Beijing access to Russian mineral deposits, First Deputy Prime Minister Igor Shuvalov said in an interview with Chinese media on April, 10.

“We need real innovation and major projects. We are going to China to discuss the particular options for these projects,” he announced. Russia and China should deepen investment cooperation in various areas, including energy, added First Deputy Prime Minister.

However, differing points of view in many spheres of economy still do exist on the level of small-and medium-sized businesses and lower- and medium-level bureaucracies. On the larger scale the economic cooperation is rapidly developing, including such branches as mineral extraction and common energy projects.

Shuvalov also highlighted the possibility to enlarge the scale of local currency settlement in bilateral trade. “Yuan’s role in the international trade will increase, and we support that trend. The ruble-yuan trade in the Moscow Interbank Currency Exchange is an evidence that we follow that way,” the official said.

“The more we get mutually intertwined and more joint projects we develop, the more security we guarantee and more opportunities for development … Trust is all we need,” Shuvalov concluded. He also noted that his visit to China should give an impetus to agreements reached during the March visit of newly elected Chinese President Xi Jinping to Russia.

Chinese President Xi Jinping described his time in Moscow as “a trip that far exceeds expectations” . He praised the bilateral cooperation and called for deepening the strategic partnership.


Filed under: Business News Tagged: China, investment, Russia

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