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Li Qiang says China, Russia to simplify investment cooperation procedures

Expanding investment cooperation was the second point mentioned by the Premier of the State Council of China

SHANGHAI, May 23. /TASS/. China and Russia should simplify procedures and provide businesses with legal guarantees to encourage investment cooperation, Premier of the State Council of China Li Qiang said in an address to participants of the Russian-Chinese Business Forum in Shanghai.

"I will focus on priority areas for further work. First, this is boosting trade in terms of quality and volume. I hope that joint efforts will be made to strengthen the trend of trade growth and optimize its framework in the future. It is necessary to boost trade in services and e-commerce, and to optimize trade in traditional and new industries," according to the address read out by Vice Premier of the State Council He Lifeng on Tuesday.

Expanding investment cooperation was the second point mentioned by the Premier of the State Council of China. "The sides are working hard to draft development plans in investment cooperation, with talks on updating the intergovernmental agreement on the promotion and mutual protection of capital investment underway. We see huge potential in this endeavor. It is necessary to provide businesses with modern and up-to-date legal guarantees, simplify investment procedures, encourage investment cooperation in energy, the chemical industry, and engineering," he said.

Li Qiang also mentioned cross-border infrastructure. "In recent years, some progress has been made in building cross-border infrastructure, though some unresolved issues do exist. We expect joint actions in the spirit of mutual benefit to unlock the potential of cross-border shipments, equipping border checkpoints, and increasing the throughput capacity and efficiency of customs inspections, which may create a more comfortable environment for the movement of people and supply of cargoes," he said.

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