China, Russia agree to further expand investment, energy cooperation

Chinese Vice Premier Ding Xuexiang, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, reads a congratulatory letter from Chinese President Xi Jinping, and delivers a speech while attending the opening ceremony of the 6th China-Russia Energy Business Forum, in Moscow, Russia, July 23, 2024. Ding, who visited Russia from Sunday to Tuesday, also co-chaired the 11th meeting of the China-Russia Investment Cooperation Committee with Russian First Deputy Prime Minister Denis Manturov and the 21st meeting of the China-Russia Energy Cooperation Committee with Russian Deputy Prime Minister Alexander Novak. (Xinhua/Yan Yan)
MOSCOW, July 24 (Xinhua) — China and Russia have agreed to further expand investment and energy cooperation to promote bilateral ties.
The pledges came out of the 11th meeting of the China-Russia Investment Cooperation Committee, co-chaired by Chinese Vice Premier Ding Xuexiang, who visited Russia from Sunday to Tuesday, and Russian First Deputy Prime Minister Denis Manturov, the 21st meeting of the China-Russia Energy Cooperation Committee co-chaired by Ding and Russian Deputy Prime Minister Alexander Novak, and the 6th China-Russia Energy Business Forum, which Ding also attended.
When co-chairing the meetings, Ding, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, noted the two heads of state have conducted many strategic exchanges and reached a series of important consensus, drawing a new blueprint for the development of China-Russia relations and cooperation in various fields.
China is willing to work with Russia to earnestly implement the important consensus reached by the two heads of state, continuously upgrade the level of investment and energy cooperation between the two countries, and better realize mutual benefit, win-win results and common development, Ding said.
Under the strategic guidance of the two heads of state, China-Russia investment and energy cooperation has maintained a sound momentum of development, bringing tangible benefits to the two countries and the two peoples, Ding said.
The two sides should formulate better plans to provide guidance for bilateral investment cooperation, steadily advance cooperation on major projects, deeply tap the potential of sub-national cooperation, and actively create a favorable investment environment, he said.
He also called for deepening integrated cooperation among upstream, midstream and downstream of the energy sector, enhancing cooperation in fields such as energy technology innovation, strengthening strategic coordination on global energy governance, so as to jointly promote their high-quality energy cooperation.
The Russian side spoke highly of the development of Russia-China relations and the achievements in practical cooperation, congratulated the successful convening of the third plenary session of the 20th Central Committee of the Communist Party of China (CPC), and said that the key reform resolution adopted at the session will not only strongly promote China’s prosperity and development, but will also provide new opportunities for the development of Russia-China relations.
They expressed Russia’s willingness to join hands with China to fully implement the consensus reached by the two heads of state, give full play to the platform and coordinating role of investment and energy cooperation mechanisms, expand the scope and depth of their cooperation, and contribute to the growth of the Russia-China comprehensive strategic partnership of coordination for the new era.
When attending the opening ceremony of the 6th China-Russia Energy Business Forum, Ding read a congratulatory letter from Chinese President Xi Jinping and delivered a speech.
Ding noted that back in May, the two heads of state held talks in Beijing and issued a joint statement on consolidating China-Russia strategic energy cooperation and achieving high-level development to ensure the economic and energy security of both countries.
Both sides should consolidate the good momentum of energy trade cooperation, jointly promote the construction of large-scale energy projects, pragmatically expand mutually beneficial cooperation in the energy industry chain, and build a closer energy cooperation partnership, Ding said.
Noting China is opening its door even wider to the outside world and will provide more development opportunities for the world through its high-quality development, Ding said Russian enterprises are welcome to actively participate in China’s modernization drive and achieve better development while sharing China’s opportunities.
Igor Sechin, executive secretary of the Russian presidential commission for the strategic development of the fuel and energy sector and environmental security, and chief of Russian oil company Rosneft, addressed the opening ceremony and read a congratulatory letter from Russian President Vladimir Putin. Novak also delivered a speech. ■