Energy, finance, infrastructure top priorities in Russia-China cooperation - Russian Chairman of Russian-Chinese Business Council Gennady Timchenko

BOAO /China, Hainan Province/, March 28. /TASS/. Energy, financial sector and infrastructure projects are the key themes in cooperation between Russia and China, Russian Chairman of the Russian-Chinese Business Council Gennady Timchenko said following the Boao Forum for Asia Annual Conference 2015 on Saturday. "The key directions for cooperation at the present moment of time are energy sector, financial sector and infrastructure projects," Timchenko said. The Russian-Chinese Business Council unites leading companies of two countries. The Russian businessman Timchenko became head of the Russian part of the council back in April 2014, when the Russian leadership announced a shift to boosting economic cooperation with the Asia-Pacific Region countries after first anti-Russia sanctions were imposed by western states due to crisis in Ukraine. Timchenko said that gas contracts, new power plant construction projects and joint development of fields are of outstanding interest in the energy sector. Among top priority infrastructure projects, Timchenko mentioned the construction of the high-speed railway line between Moscow and Kazan as part of the Eurasian high-speed transport corridor and the creation of new ports and specialized terminals in Russia’s Far East. "The creation of infrastructure objects allows laying the groundwork for further socio and economic development and using advantages of geographic location of Russia and China," Timchenko said. In the financial sphere, the key task is to develop mechanisms of stimulating supplies of Russian goods to China for rubles, to develop leasing schemes of supplying Chinese goods to the Russian market as well as to allow Russian insurance companies to enter the Asian reinsurance market, he said. "The financial sector requires our maximum attention today. Increase of bilateral payments in national currencies /ruble-yuan/ may largely boost the trade turnover between Russia and China," Gennady Timchenko said. Read more