China to invest US$12 billion in Russia

Source: CCTV.com | 11-09-2006 16:07

Chinese investment in Russia is expected to reach 12 billion US dollars by 2020. Vice Premier Wu Yi announced the plan as the Sino-Russian Investment Promotion Week got off to a start this morning in Beijing.

She was speaking in front of more than 600 chiefs of companies from both countries. The vice premier also says along with the 12 billion dollars of investment, two-way trade should reach 60 to 80 billion US dollars by 2010. The Russian Deputy Prime Minister Alexander Zhukov agreed with this vision. At the meeting, Chinese enterprises signed 10 contracts with Russian companies in mining, lumber, and auto assembly and production. Resource development, infrastructure construction and agriculture are also among the key investment sectors.

Editor:Sun Luying