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Zhang Gaoli and First Deputy Prime Minister Igor Shuvalov of Russia Hold the Fourth Meeting of China-Russia Investment Cooperation Committee

On April 12, 2017 local time, Vice Premier Zhang Gaoli and First Deputy Prime Minister Igor Shuvalov of Russia held the fourth meeting of the China-Russia Investment Cooperation Committee.

Zhang Gaoli said that under the strategic guidance of President Xi Jinping and President Vladimir Putin, China-Russia relations have always been running at a high level. Both sides see each other as a significant opportunity for respective development, and are dedicated to common development and shared prosperity. China and Russia, as neighbors to each other, are both world's major economies and emerging markets. Both countries have unique advantages in politics, geography and people-to-people and cultural engagement, as well as enjoy broad prospects and fruitful outcomes from practical cooperation in all fields with large economic volume, strong industrial complementarities and extensive market space.

Zhang Gaoli stated that the China-Russian Investment Cooperation Committee, established in 2014 by both governments, plays a positive role in accelerating China-Russia investment cooperation. The main task of this meeting is to deeply discuss new measures on promoting the scale and level of cooperation, convert the advantages of the high-level political relationship into more cooperation results, and make good preparation in investment and cooperation for meetings between the leaders of the two countries this year.

Zhang Gaoli set forth three suggestions. The first is to deeply advance the docking of bilateral development strategies, jointly promote the integration between the "Belt and Road" construction and the Eurasian Economic Union (EEU), give full play to the role of investment and cooperation in promoting bilateral interest integration, resource complementarities, industry synergy, market linkage, technical exchanges, personnel trainings and other aspects, and actively carry out the third-party market cooperation. The second is to continuously push forward major cooperation projects of both countries and jointly well implement the projects confirmed in meeting minutes. China is willing to actively participate in Russian Far East development strategy, import substitution strategy and privatization process, jointly forge more landmark investment cooperation projects and constantly enrich the connotation of China-Russia comprehensive strategic partnership of coordination. The third is to promote the cooperation between regions and small and medium-sized enterprises, mobilize the initiative of carrying out regional investment cooperation of both countries, tap cooperation potential of small and medium-sized enterprises, drive employment growth, support each other in visa, labor services, customs clearance, financing and other aspects, and jointly create a sound external environment for cooperation between enterprises of both countries.

Zhang Gaoli stressed that China always regards Russia as an important and prior partner in investment cooperation, is willing to, together with Russia and on the basis of cooperative results already achieved, make persistent efforts and continuously make use of the complimentary advantages in resources, markets, industries, technologies, capitals and talents and other fields, so as to constantly bring tangible results to bilateral investment cooperation, better promote common development and revitalization of both countries, and benefit the two countries and the two peoples.

Igor Shuvalov said that Russia is satisfied with the advancement of investment cooperation programs since the last meeting and hopes, together with China, to actively implement the goals and tasks of investment cooperation set by the two heads of state, and continuously push bilateral investment cooperation for new progress. Highly valuing the "Belt and Road" initiative and the International Cooperation Summit Forum to be held in May, Russia is willing to deeply advance the integration between the EEU construction and the "Belt and Road" initiative. Russia will keep a close eye on the 73 major cooperation programs confirmed at this meeting and stands ready to provide necessary service and convenience for their implementation. It is hoped that Russian and Chinese enterprises could improve their competitiveness in global market and focus on the cooperation in third party markets.

At the meeting, both side listened to the comments and suggestions proposed by Business Advisory Council and business representatives on strengthening investment cooperation between the two countries. After the meeting, Zhang Gaoli and Igor Shuvalov jointly signed the minutes.

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