KHABAROVSK, August 15. /TASS/. The Chinese business will increase its presence in Russia’s Far East, Deputy General Director for Investment Projects Support at the Far East and Arctic Development Corporation Sergey Skaly told reporters in Khabarovsk, adding that the car industry might be promising.
"[The number of projects with China’s participation] will be rising. <…> China is number one investor compared with other countries. The share of investors with China’s participation is constantly rising, same as geography. Previously there were projects in the Khabarovsk Region, the Primorsk Region, whereas now they start appearing all across the Far East, in Chukotka," he said.
Over one hundred companies with Chinese participation or fully Chinese firms have become residents in the Far East since preferential treatment was introduced there, Skaly noting, adding that the car industry might become interesting for China. "However, what we need is not a finished Chinese car, but its assembly here using China's technologies, design, components. For ensuring technological sovereignty, industrial development, it is necessary to localize output," he said.
Negotiations are underway with come automakers now, with issues of end market, logistic setup under discussion, the official said, adding that clusters could be organized in the future, with small enterprises engaged for production of components.