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en

Does China keep the word?

Does China keep the word?
Russian Prime Minister Dmitry Medvedev is on a two-day visit to China, representatives of major companies of the two countries are discussing the implementation of investment projects worth $ 100 billion

Russian Prime Minister Dmitry Medvedev held a direct line with the citizens of China. Users of the Chinese Internet segment were able to ask questions about bilateral relations, sports, cooking, etc., to the Russian government’s chairman. The journalist of the Chinese electronic newspaper People’s Daily China read the questions. As a result, Medvedev was offered to distribute autographs, as well as lunch in the dining room of the editorial office. Such an online conference of Dmitry Medvedev was first held in February 2007.

The video broadcast of the conference was conducted on the website of «Russia Today».

Then, ten years ago, Deputy Prime Minister Medvedev said that the cooperation between Russia and China had reached a new stage. Prerequisites for this were the year of Russia in China (2006) and the year of China in Russia (2007). At that time, trade reached $ 33 billion, in 2006 six meetings were held at a high level.

At the 2017 conference, Prime Minister Medvedev suggested that Russian-Chinese relations are «at the highest point» of development during their entire existence.

«These are equal, friendly relations based on non-interference in each other’s internal affairs, on respectful dialogue, on partnership, on interaction on all issues: both on economics and on international issues. Therefore, I am absolutely sure that these relations will continue to develop, «Medvedev said.

He noted the role of the Chinese Communist Party in the development of bilateral relations. According to him, at the 19th Congress of the CPC Central Committee, strategic decisions were taken, opening new prospects, which «will be implemented for a long time.»

«We very much count on the fact that everything that was adopted at the congress will be implemented. We, in this sense, wish our Chinese friends and, of course, the leadership of the Chinese Communist Party and the Chairman of the People’s Republic of China, Mr. Xi Jinping maximum success in implementing all the decisions of the Congress,» he said.

According to the results of eight months of 2017, the Russian Prime Minister stated the growth of turnover by 35%. «Cooperation has gained a good pace,» Medvedev said, focusing on the activities of the investment commission: selected joint projects for tens of billions of dollars, focused on the digital economy and high technology.

He referred to the latter nuclear power, space and aircraft construction. At the same time, the Internet market between the two countries «is measured in trillions of rubles, but nevertheless it is only a part of what can be obtained in the future.

«I believe that we could also strengthen cooperation in such conventional areas as the elements of modern artificial intelligence are used, but also make some plans for the future, because without this there will not be a single country or in the sphere infrastructure, neither in education, nor in health care, nor in transport, «he said.

According to the Russian trade representative office in China, the volume of accumulated direct Russian investment in China in 2016 amounted to 986.26 million dollars, China’s to Russia — 9.4 billion dollars.

«The volumes of bilateral investment cooperation are still declining. In 2016, Chinese direct non-financial investment in Russia fell by 26.6% compared to the same period last year and amounted to $ 547 million; the volume of Russian direct non-financial investment in China fell by 61.9% to $ 4.99 million,« the trade mission said in a statement.

At the present stage of development of bilateral relations, the scope of mutual investment lags behind the volumes of bilateral trade, but Chinese investments in the Russian economy exceed by almost 10 times the investment of the Russian Federation in the PRC.

According to the agreements between the leaders of China and Russia, by 2020 it is planned to increase the volume of Chinese investments to $ 12 billion.

Since 2014, the Russian-Chinese intergovernmental commission for investment cooperation has been operating. At the fourth meeting in April 2017, the list of jointly implemented projects was updated — in the list of only 73 projects.

According to Chinese customs statistics, the external trade turnover between Russia and China in January-July 2017 amounted to 46.8 billion dollars (an increase of 25.5%), including Russia’s exports to the PRC — 23.3 billion dollars. In the ranking of the TOP-20 of China’s main trading partners, Russia rose from 15 to 12 places.

Meanwhile, RIA Novosti journalists, citing a reliable source, reported that the first transaction of the China-Eurasian Economic Cooperation Fund will be held jointly with the Russian Direct Investment Fund (RFPI) on 1 November. The source said that this will be an investment in the Russian oil service company Eurasia Drilling Company. The amount is not disclosed, but the deal is called the result of the work of the third Russian-Chinese Business Advisory Committee, held on 31 October.

In addition, the Russian-Chinese Investment Fund (RCIF) will invest money in the construction of a backup Kutuzovsky Prospekt in the capital. The RCIF will invest the United Transport Concession Holding, established by the RFPI and the Leader MC.

The meeting was attended by more than 150 representatives of leading Russian and Chinese companies. As specified by the press service of RFPI, the Committee is working together on 73 projects for a total of about $ 100 billion.

«We see that the strategy for joint discussion and joint implementation of Russian-Chinese projects is effective. This is evidenced by the work of the Committee and the activities of the RCIF. The growing interest on the part of both Russian and Chinese companies confirms the prospects of cooperation and allows us to count on a substantial increase in mutual investment in the near future, «said the general director of the RFPI and the general co-director of the RCIF, Kirill Dmitriev.

Journalists of the Chinese edition of People’s Daily China believe that relations between China and Russia are «at a high level of political and strategic trust.» Heads of state meet, on average, five times a year. In a telephone conversation with Russian President Vladimir Putin, Chinese leader Xi Jinping promised that China intends to strengthen relations with Russia.

And, obviously, the intentions are supported by the yuan, the ruble and the dollar.

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