Russia and China are preparing to launch over 80 joint investment projects, the total value of which is estimated at $200 billion.
This was stated by the Special Representative of the President of the Russian Federation for Relations with International Organizations to Achieve the Sustainable Development Goals and Co-Chairman of the Russian-Chinese Committee for Friendship, Peace and Development Boris Titov, TASS reported.
Titov noted that the Russian government is introducing tax incentives for Chinese partners to switch from the "direct import supply" model to localization of production on the territory of the Russian Federation. As a successful example of such cooperation, Titov pointed to the automotive industry, mentioning the Haval, “Moskvich“ projects, as well as plans for the “Volga“ car.
According to him, by 2025, Chinese businessmen had officially registered 13,000 companies in Russia, which “significantly exceeds the number of Western“ companies operating on the Russian market.
The sixth Russian-Chinese Entrepreneurs' Forum is being held in Xi'an (Shaanxi Province) from November 24 to 25. The event is aimed at practical expansion of economic ties between small and medium-sized enterprises of the two countries, TASS notes.