China, Russia set new investment programs

A new batch of major investment cooperation programs was decided after the third meeting of the China-Russia Investment Cooperation Committee convened in Beijing on Friday.

The meeting was co-chaired by Vice-Premier Zhang Gaoli and visiting Russian First Deputy Prime Minister Igor Shuvalov.

The main task of the meeting is to make preparations in the field of investment cooperation for the upcoming meeting between the top leaders of China and Russia, according to an official release.

Russian President Vladimir Putin will pay a state visit to China on Saturday at the invitation of President Xi Jinping.

At the meeting, the two sides agreed to gear up dovetailing efforts to boost the link between China's Belt and Road Initiative and the Russia-led Eurasia Economic Union, two strategic blueprints that both cover the Eurasia continent.

Their complimentary advantages will be better tapped into in various fields such as resources, markets, technology, capital and expertise to boost opening up and promote the market environment.

The two countries will also jointly explore third-party market opportunities.

Zhang said as two-way investment has continued to expand, a growing number of enterprises from one country are willing to invest in the other.

The two countries hope to further create enabling conditions for companies from both sides to expand investment, introduce more symbolic investment cooperation programs and enrich the China-Russia comprehensive strategic partnership of coordination, Zhang said.

Shuvalov said Russia hopes to determine and implement more major investment cooperation programs and enrich the list of programs for dovetailing the Belt and Road Initiative with the Eurasia Economic Union.

The second meeting of the China-Russia Investment Cooperation Committee was held in St. Petersburg, Russia on June 18, 2015.