KAZAN, August 18. /TASS/. Chinese companies are interested in further localizing their production in Russia, CEO of the Ulyanovsk special economic port zone Oleg Nepochatov said at the 3rd Sprouts Business Forum.
"We see the demand of the Chinese companies to deepen localization of their products at present. This is driven in the first instance by significant changes in the Russian regulatory environment," Nepochatov said at the session dedicated to developing cooperation with the top Chinese companies.
In 2024, China took the lead in the volume of goods imported by the Ulyanovsk Region, the chief executive said. China is also a big importer of goods from the Ulyanovsk Region. Cooperation is increasing the most in such segments as the automotive industry, machine tool industry, manufacturing of various component parts, unmanned aerial vehicles, renewable energy, building materials industry, trade and logistics, he noted.
"We are certainly interested in the continuation and comprehensive development of partner relations with China. And we see prospects for investment cooperation in the following branches: creation of assembly facilities for cars and trucks with further localization prospects, manufacturing of auto parts, agricultural machines, machine tool building, production of components for the machine tool industry, manufacturing of various kinds of electronics and home appliances, fabrication of new materials, composites, and so on," Nepochatov added.
The 3rd Sprouts Business Forum dedicated to the mutually beneficial cooperation between Russia and China is being held in Kazan on August 18-19. The business program comprises about 100 activities, including 70 business sessions. The participants will discuss issues of the economy, industry, education, culture, finance, investments, transport corridors, agriculture and tourism. TASS is the general information partner of the forum.