Russia eyes Chinese investments in its far east region: Medvedev

Russian Prime Minister Dmitry Medvedev on Tuesday said China-Russia trade rose by 35 percent from January to August this year, and that Russia is eyeing Chinese investments in its far east region.

It was one of his answers to questions he received from Chinese Net users during his visit to the People’s Daily Tuesday afternoon.

He said trade between the two countries has developed rapidly.

“Trade volume only grew 4 percent last year, but from January to August this year, trade grew by 35 percent. It’s a good pace and I hope this will continue,” Medvedev said.

He said Russia is eyeing Chinese investments, especially in Russia’s far east region. He said Russia is building development zones in that region so that foreign companies can enjoy preferential tax policies, including zero taxes in the first five years.

He noted that investments in energy are being implemented but there are other good cooperation projects in agriculture, high-tech and housing.

When asked about Russian tourism, Medvedev said China remains the top country in terms of the number of visitors to Russia, and Russia is considering further streamlining the visa application process.

“About 1.2 million Chinese tourists visited Russia last year. Based on our knowledge, the number of Chinese visitors rose by around 20 percent in the first half of the year,” Medvedev said.

He added that Russia will soon launch a new visa policy where a group of more than three Chinese visitors will be exempt from getting a visa, and that their stay in Russia would be extended to three weeks.