China-Russia trade to expand despite world economic slowdown: Chinese ambassador

Updated 2016-12-22 15:01:25 Xinhua

China has been Russia's top trading partner for six successive years, and bilateral cooperation is set to further grow despite slowing global growth, Chinese Ambassador to Russia Li Hui has said.

Russia was one of China's main suppliers of energy, and electro-mechanical and high-tech products, and even the continuing decline in world commodity prices did not prevent the stable improvement of bilateral cooperation, Li said in a recent interview with the Interfax news agency.

The pairing of the China-proposed Belt and Road Initiative with the Russia-led Eurasian Economic Union, agreed between leaders of both nations in 2015, would create favorable conditions for their over-all cooperation in various sectors, he said.

The Belt and Road Initiative comprises the Silk Road Economic Belt and the 21st Century Maritime Silk Road and aspires to build a trade and infrastructure network connecting Asia with Europe and Africa along the ancient Silk Road routes. The EEU groups Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia.

According to Li, China's direct investment in Russia has already exceeded 10 billion U.S. dollars, and the two countries have planned 66 priority projects for a total of 90 billion dollars.

Cooperation is developing in such sectors as nuclear energy, electric power, chemical industry, agriculture, mining, among others, he added.

The ambassador hoped that China and Russia would develop new forms of trade and find new ways of growth.

The energy sector has been one of the priorities for the two countries.

In 2016, the construction of the Eastern Route pipeline proceeded smoothly, and it is expected to start supplies to China in 2018, providing the country with 38 billion cubic meters of natural gas a year, Li said.

Relevant parties have also been actively engaged in consultations on the construction of the Western Route pipeline, which may double gas supplies to China in the future, and a number of other large objects, said the ambassador.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58June 29 2017 10:13:28

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16June 29 2017 10:13:28

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18June 29 2017 10:13:28

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords