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A Sino-Russian economic forum is scheduled to be held in Beijing on March 22, participated by more than 600 representatives from both countries, including heads of state, government officials, scholars and business people.

 

The forum, cosponsored by China's Ministry of Commerce and Russian Ministry of Economic Development and Trade, is a part of the "Year of Russia" in China.

 

The two countries have decided to have a "Year of Russia" in China in 2006 and the "Year of China" in Russia in 2007 so as to improve their understanding of each other.

 

The forum will cover bilateral cooperation in energy, telecommunications, finance and machinery and electronic products.

 

In 2005, the trade volume between China and Russia reached US$29.1 billion, up 37.1 percent over that in 2004.

 

China is Russia's fourth largest trade partner, and Russia is China's eighth largest trade partner.

 

In the first nine months of 2005, China's contracted investment in Russia totaled US$368 million, twice that in 2004. China has more than 750 investment projects in Russia, involving US$1.05 billion.

 

(Xinhua News Agency February 22, 2006)