Trade Between China, Russia's Far East Exceeds $20Bln In 2022 - Consul General

Trade between China and Russia's Far Eastern Federal District grew by 47% in 2022, exceeding $20 billion, Jiang Xiaoyang, the Chinese consul general in the Russian city of Khabarovsk, said on Friday

BLAGOVESHCHENSK (UrduPoint News / Sputnik - 26th May, 2023) Trade between China and Russia's Far Eastern Federal District grew by 47% in 2022, exceeding $20 billion, Jiang Xiaoyang, the Chinese consul general in the Russian city of Khabarovsk, said on Friday.

"In 2022, the total volume of trade between China and the Far Eastern Federal District exceeded $20 billion, an increase of 47%. Investments in the Far East exceeded $13 billion, firmly consolidating China's status as the Far East's largest trading partner and the largest source of foreign capital," Jiang said at the Russian-Chinese economic forum Amur Expo in Khabarovsk.

Jiang noted that with the active participation and joint efforts of both countries, cooperation "will undoubtedly lead to new breakthroughs" and the achievement of "great results". He offered several ideas for cooperation.

"First, we should continue to work on improving the investment environment in the adjacent regions of the two countries, we will strive to improve the quality, efficiency and pragmatic cooperation ... We recommend that the Russian side more widely cover the policy of preferences, laws, regulations to attract investment in the Far East, so that more Chinese companies can understand the Russian side's willingness to cooperate and all the preferential conditions," the consul general said.

He noted that China continues to improve infrastructure, create appropriate crossings, ports and increase the efficiency of their work.

"Secondly, it is necessary to make full use of various cooperation mechanisms, government-business forums, including the intergovernmental committee for cooperation and other organizations that exist for this purpose ... It is also necessary to introduce innovative cooperation models: actively explore the creation of cross-border economic cooperation zones, increase political support, form a supportive industrial policy, effectively use two markets, two resources � make full use of them," Jiang concluded.

The consul general called the Amur Expo forum an influential platform for cooperation between China and Russia.

The Amur Expo forum is taking place in Khabarovsk from May 26-28.