Foreign and Military Affairs

New Russia-China center hosts 1st promotion

(Xinhua)
Updated: 2010-03-13 10:40

MOSCOW - The newly-founded Russian-Chinese Center of Economic Investment Cooperation presented its organizational composition, business specialties and development goals at its first promotion held on Friday.

Igor Rogachev, former Russian ambassador to China and director of the center, said that despite unprecedented high level of political exchanges between Russia and China in recent years, the bilateral economic and investment cooperation has lagged far behind.

The creation of the center aims precisely at deepening China's investment cooperation with Russia, he said.

Supported by the Russian Economic Development Ministry, Russian Academy of Science and the Chinese side, the Russian-Chinese Center of Economic Investment Cooperation founded in December 2009 is the first national institution dedicated to facilitating Chinese enterprises entering Russian market.

The center is subordinate to the Russian Productivity Research Committee, a renowned economic counseling agency founded 95 years ago.

Gao Xiyun, Economic Minister Counselor of the Chinese Embassy in Russia, said the establishment of the center indicates that China-Russia economic cooperation has come to a certain high level.

However, bilateral investment cooperation bears huge potential as it is disproportionate to the two countries' economic strengths, he added.

Gao hoped the Russian-Chinese Center of Economic Investment Cooperation can effectively help Chinese enterprises solve problems encountered when investing in Russia.