Russia and China are planning joint investment projects in the field of sustainable, green and low-carbon development

The 27th meeting of the Russian-Chinese Commission for the preparation of regular meetings of heads of government was held in Beijing. The meeting was chaired by Deputy Prime Minister of Russia Dmitry Chernyshenko and Deputy Premier of the State Council of the People’s Republic of China He Lifeng.

The parties discussed issues of bilateral cooperation in the trade, economic and industrial sphere, in the field of nuclear energy and space, transport and customs, agriculture and construction, finance and science, satellite navigation and environmental protection, communications and information technology.

“In 2024, we expect to expand the areas of cooperation and launch joint investment projects in new priority areas, such as end-to-end technologies, green development and new energy sources, shipbuilding, etc. We plan that in the coming years the portfolio of the intergovernmental commission will include more than 100 different projects,” emphasized Vladimir Ilyichev.

Among the key areas of cooperation for the coming year, the Deputy Minister named the continuation of joint work on modernizing the intergovernmental agreement on the promotion and mutual protection of investments, the development of investment cooperation, as well as the continuation of work within the framework of a bilateral mechanism to identify barriers and restrictions in the trade, economic and investment spheres. The mechanism has been successfully operating for 7 years and produces concrete practical results in the areas of agriculture, transport, finance, certification and providing targeted assistance to companies in the two countries.

Russia and China also plan to realize the potential of bilateral cooperation in the field of sustainable development. Currently, the regions of the two countries are engaged in an active dialogue on climate issues. A Memorandum on green and low-carbon development between the Sakhalin Region and Guangdong Province has been agreed upon and is being prepared for signing.