$2 billion trade contracts signed at China-Russia Expo
Updated: 2015-10-17 14:48
Tourists take pictures at Red Square in Moscow May 12, 2015. [Photo/IC]
The expo attracted nearly 10,000 businessmen from 103 countries and regions, with more than 6,000 officials and businessmen from Russia, which shares a 3,000-km border with Heilongjiang.
As of Thursday, about 35.8 billion yuan (around $5.64 billion) in contracts had been signed among domestic companies.
A total of 13 business-themed activities hosted by the governments of China and Russia, and 40 related promotional events were held during the six-day expo.
The integration of China's Belt and Road Initiative with Russia's Eurasian Economic Union (EAEU), a plan to develop its far eastern region, was a highlight of the expo.
Experts attending the expo said the integration of the two national plans will help deepen bilateral cooperation, facilitate growth, promote infrastructure connections and guarantee a safe development environment for border areas.
Late on Thursday, an alliance of 35 Russian and Chinese financial institutions was established to better serve cross-border financial activities between China and Russia.
China remained Russia's largest trade partner for the fifth year in 2014, while Russia is China's ninth-largest trade partner. Bilateral trade rose 6.8 percent from the previous year to a record high of $95.3 billion in 2014. Twenty years ago, it was less than $7 billion.
The China Harbin International Economic and Trade Fair started in 1990, and its was upgraded to China-Russia Exposition last year to focus on bilateral cooperation between China and Russia.