Russia’s Chinese experts talk about the direction of the development of investment cooperation between Russia and China – Heilongjiang Economic and Trade Cooperation Platform with Russia

Pavel Kuznetsov, deputy director of the Institute of China and Modern Asia of the Russian Academy of Sciences and deputy chairman of the State Coordination Center for International Business Cooperation, said on the sidelines of the Eastern Economic Forum that Sino-Russian investment cooperation is developing smoothly in machine building, automobile manufacturing industry, production of household appliances, and agriculture.

In July 2024, at a meeting of the Russian-Chinese Intergovernmental Commission on Investment Cooperation, the parties agreed on updating the list of major investment and cooperation projects. Currently, the investment portfolio of the Russian-Chinese Investment Cooperation Council contains more than 80 projects worth about $200 billion.

Kuznetsov noted that the project focus is centered on mineral extraction and processing, infrastructure development and agriculture.

We have seen significant progress in the non-energy and non-resource sectors, including machine building, the automotive industry, the production of household appliances, agriculture, and so on. The prospects for “green” and high-tech industries are good. Work at the regional level is being actively promoted, a regional register of investment projects is being established, and joint site inspections of projects belonging to the Committee are being carried out. Large-scale projects in the Russian-Chinese industrial sector are being implemented. In a recent speech, Russian President Vladimir Putin focused on projects for the production of Chinese automobiles, automobile engines and automobile parts in Russia, as well as a joint program for the development of long-range wide-body passenger aircraft and heavy civilian helicopters. The formation of the China-Russia Investment Commission is nearing completion, and the two countries plan to sign the China-Russia Investment Cooperation Program by the end of the year. All this will give new impetus to Russian-Chinese interaction in this area.