Russian high-tech giant eyes closer cooperation

MOSCOW - Russian high-tech conglomerate Rostec Corporation is ready to strengthen cooperation with China on the development of military and civilian products, its CEO said.

"The portfolio of contracts that have been signed by Rostec's military export subsidiary and have entered into force exceeds $45 billion. More than 15 percent of this amount comes from cooperation with China," said Sergey Chemezov.

Rostec not only supplies China with military hardware but also transfers technology and conducts joint research with China on tanks, warplanes and guns, he said.