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Russian government to aid in opening manufacturing facilities with Chinese participation

According to Mikhail Mishustin, the investment cooperation between the two countries shows good dynamics, there is also progress in other key areas

MOSCOW, December 5. /TASS/. The current conditions create further potential for opening production facilities in Russia with the participation of Chinese companies, Russian Prime Minister Mikhail Mishustin said on Monday at a video conference meeting with his Chinese counterpart Li Keqiang on Monday.

"Under the current circumstances, additional opportunities for strengthening such collaboration are emerging, including setting up production facilities in Russia with the participation of Chinese companies. The government will do everything possible to promote this," he said.

According to him, the investment cooperation between the two countries shows good dynamics, there is also progress in other key areas.

Speaking about investment cooperation, Mishustin noted that now the portfolio of the intergovernmental Russian-Chinese commission includes 79 significant and promising projects, and the total amount of announced investments exceeds $160 bln. This primarily includes projects in the areas of mining and processing of minerals, industrial production, construction of infrastructure facilities, and agriculture, Mishustin said.

Mishustin added that Russia is ready to fulfill all contractual obligations for the supply of energy resources to China and to work on new large-scale projects in this area. "Supplies of natural gas, oil and coal are growing. The construction of nuclear power plants with Russian participation in China continues. We are ready to fulfill all existing contractual obligations and work on new large-scale initiatives in this area," Mishustin said.

Russia’s Prime Minister added that around half of trade between Russia and China is already conducted in national currencies. "It is important that now almost half of our trade is carried out in national currencies," he said.

According to the head of the Russian government, good results have been achieved in economic relations, primarily in mutual trade. Mishustin noted, despite the unfavorable external situation, the Russian-Chinese trade turnover shows double-digit growth rates - over the ten months of the current year, it increased by almost a third and approached $150 bln.

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