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China and Russia to strengthen cooperation

Staff writer |
China and Russia pledged to strengthen cooperation in investment and finance on Thursday, shortly before the two countries' top leaders were set to meet in China.

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Both sides should fully use the Russia-China Investment Fund, materialize planned projects, and conduct more cooperative efforts like equity investment, issuing of bonds, and mergers and acquisitions, Vice-Premier Zhang Gaoli told visiting Russian First Deputy Prime Minister Igor Shuvalov.

Vice-Premier Zhang called for Russia to facilitate Chinese enterprises' investment in Russia's Far East region, which borders China's northeast region, adding that China would like to see an increase in two-way investment.

China has been Russia's fourth-largest source of foreign investment. It invested $4.08 billion in Russia last year, a surge of 518.2 percent from the previous year, official statistics show.

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