China is planning to invest $12 billion in Russia by 2020, the official China Daily newspaper said Saturday.
Chinese Prime Minister Wen Jinbao made the announcement Friday night at a state dinner to honor visiting Russian President Vladimir Putin, the newspaper said. Its report was carried by the Russian Interfax-China news agency.
China and Russia “should open their markets wider to each other, increase trade volume and improve the current trade structure,” Wen said
The two countries “should regulate trade through the early warning and consultation mechanisms on sensitive products” and carefully handle bilateral trade problems, he said.
Talking about investment in Russia, the Chinese premier said his country “is willing to increase investment in Russia on the construction of infrastructure facilities, exploitation of oil and gas and high technology co-operation.”
