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Saint Petersburg International Economic Forum 2014

Russia, China to cooperate to develop Far East regions

"We know that great importance is attached in Russia to the Far East's development and China is viewed as a priority partner," Chinese Vice-President Li Yuanchao said

ST. PETERSBURG, May 24 (Itar-Tass) - Russian-Chinese cooperation in border regions in the Far East may turn them into a large economically developed region in East Asia, Chinese Vice-President Li Yuanchao said on Saturday at the St. Petersburg International Economic Forum.

Major projects of strategic importance are a key support of bilateral mutually beneficial relations, he noted. "We know that great importance is attached in Russia to the Far East's development and China is viewed as a priority partner."

Li noted the Chinese government encouraged active participation of Chinese business in the development of Far Eastern Russian regions. "We intend to unite the Russian Far East development programme and the strategy for development of China's northeastern regions," the vice-president said. "Thus, uniting labour forces and material and financial capabilities of the regions, they may be turned into a large market with efficient distribution of resources, capital and technologies, and in the future in a large economic bloc in East Asia.

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