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China, Russia eye Arctic resources

China and Russia plan to expand practical cooperation in the Arctic, such as oil and gas exploration and infrastructure construction, the Ministry of Commerce said on Thursday. Gao Feng, spokesman of the Ministry of Commerce, said the two sides are negotiating effective working mechanisms to exploit the Arctic channel and the region's resources, and to promote infrastructure construction, tourism and scientific investigation. Currently, companies from China and Russia are seeking to jointly explore the Arctic regions' oil and gas resources, as the two nations look at comprehensive cooperation in the far northern region, Gao said.

CIC, Goldman plan investment fund