Sino-Russian Hi-Tech Park Opens In Moscow

The opening ceremony of a Russian-Chinese innovations park was held on Thursday in Moscow.

MOSCOW (UrduPoint News / Sputnik - 16th August, 2018) The opening ceremony of a Russian-Chinese innovations park was held on Thursday in Moscow.

The park, located at the Greenwood business center, is one of the two hi-tech facilities envisioned by a bilateral project. The second park was opened in China's Shaanxi province in April. The two facilities aim to bring together Russian and Chinese businessmen to promote bilateral investment and joint production.

The Russian park will be devoted to cooperation in bio-medicine, logistics and e-commerce.

The agreement to build the two Silk Road hi-tech parks was signed by Russia and China in 2014. It is expected that in the medium and long term, the Chinese facility will open offices in cities and regions such as Beijing, Shanghai, Guangdong and Heilongjiang, while the Russian park will have branches in Kaliningrad, Vladivostok and Tatarstan. The parties also plan to open offices in the BRICS countries in the future.