Russia, Jiangsu province look to expand cooperation
A deal recently signed by a Russian delegate and Jiangsu Provincial Governor Liang Baohua will see Russia export 5 million tons of coal to China's Jiangsu province every year. According to China's Ministry of Commerce, the provinces of Heilongjiang and Jiangsu have both expressed interest in Russia' coal, forest and iron ore resources. The governors of both provinces have suggested steps to enhance the cooperation between China and Russia. The Russian delegate said that China has been interested in Russia's many resources, thus they will seize this opportunity to attract investment from China enterprises and promote economic development in the local area. He also emphasized that Russia and China reached an agreement on organizing a special group to discuss their cooperation in different fields. The delegate went on to say that Russia would create more favorable conditions for China enterprises as well as set up wholly foreign funded enterprises and joint ventures in Russia.