China urges efforts to boost China-Russia economic, trade cooperation

IRKUTSK, Russia - Chinese Vice Premier Wang Yang on Monday asked for efforts to boost China-Russia economic and trade cooperation.

Wang made the appeal at a meeting with Russian Deputy Prime Minister Dmitry Rogozin in the southern Siberian city of Irkutsk.

Wang said the two sides should work together to optimize the bilateral trade structure. Building on trade in energy and resources sectors, the two countries should explore new areas such as civil aviation materials, space technology and nuclear energy equipment, said Wang.

He asked to further improve trade facilitation in order to create favorable conditions for bilateral trade, to find ways of reducing costs by innovating trade models and encouraging cross-border e-commerce.

Wang also asked to enhance cooperation in finance. The two countries should expand trade settlement in their own currencies and the currency swap scheme, and strengthen financial and insurance support for trade with an aim to boost trade with investment, he said.

For his part, Rogozin noted that Russia always takes the comprehensive strategic partnership with China as a diplomatic priority.

Russia is willing to work with China to optimize the trade structure, expand cross-border logistic channels, enhance financial cooperation, boost mutual investment, strengthen cooperation in high-technology, aviation, space and nuclear energy, Rogozin said.

Wang is visiting Russia in his capacity as chief on the Chinese side of the Joint Commission for the Regular Prime Ministers' Meetings of China and Russia.

Wang said the main task of his meeting with Rogozin is to implement the important consensus reached by Chinese President Xi Jinping and his Russian counterpart, Vladimir Putin, during Xi's visit to Moscow in May, make preparations for Xi-Putin meetings at an upcoming BRICS summit in Ufa, Russia, and in Beijing in September, and make preparations for the 20th regular meeting of Russian and Chinese heads of government at the end of this year.