On 24 November, an inter-session meeting of the co-chairs of the Russia-China Intergovernmental Commission on Cooperation and Development of the Far East and Baikal Region of Russia and of Northeast China – Deputy Prime Minister and Presidential Plenipotentiary Envoy to the Far Eastern Federal District Yury Trutnev, and Vice Premier of the State Council of the People’s Republic of China Hu Chunhua – was held via videoconference.
Yury Trutnev noted that China was Russia’s main economic partner in the Far East: “The volume of trade between our countries is growing. Over the first nine months of 2021, the Far East’s trade billion with China to $ 9.5, which is an increase of 17.2 percent. ”
State support measures also encourage the inflow of foreign investments to the Russian Far East, such as preferential treatment in priority development territories and the free port of Vladivostok. Over 2,600 projects worth around $ 90 billion of investment are being implemented in the Far Eastern Federal District with state support. As many as 56 projects involving Chinese capital with a total amount of investment reaching $ 2.4 billion are being implemented in the Far Eastern priority development territories and the free port of Vladivostok. These include projects in such sectors as industrial production, agriculture, construction, transport, and logistics.
Fostering the development of advanced technologies was noted as a main area of cooperation. In accordance with the Presidential Executive Order, work is underway on Russky Island to create an innovative science and technology center. A special legal regime is provided, with tax incentives, special conditions for foreign professionals and the possibility of land grants for creating scientific and commercial infrastructure to launch innovative projects. Biotechnology, the World Ocean, ICT and robotics will be the main areas of the center’s activities.
“We are ready to work together with our Chinese partners and invite the leading research centers and technology companies of China to take part in high-tech projects,” Yury Trutnev said.
More to be posted soon …
EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.