The 7th High-level China-Russia Economic Forum Held in Beijing

On October 21, the 7th High-level China-Russia Economic Forum was held in Renmin University of China (RUC). Present were Dai Bingguo, Chinese Chairman of Sino-Russian Committee for Friendship, Peace and Development, Liu Wei, President of RUC, Li Fenglin, the former Chinese Ambassador to Russia, Gui Congyou, Director-General of the Department of European-Central Asian Affairs, Ministry of Foreign Affairs of China, Igor Maksimsev, President of Saint-Petersburg State University of Economics, representatives of Chinese and Russian governmental agencies, scholars from colleges and universities in China, Russia and Kazakhstan as well as representatives from Chinese and Russian business circles.

The Forum, themed “China and Russia in the Adjustment to Global Economic Governance System”, has six topics, i.e., measures and effects of constructing “Eurasian Comprehensive Partnership”, China, Russia and the new global economic governance system, cooperative study on synergy between “Silk Road Economic Belt” and construction of Eurasian Economic Union, research on deepening Sino-Russian industry cooperation, how to “optimize and upgrade” the cooperation in economy and trade between China and Russia, and Chinese and Russian economic transformation and upgrading.

President Liu Wei of RUCsaid in the opening address that the Forum was of special significance when being held in the situation of constantly deepening of Sino-Russian strategic cooperation and economic and trade contacts. He pointed out that a shining point of the Forum was that it invited industry experts in academic circles, representatives of governmental agencies and representatives of Chinese and Russian business circles to discuss problems in economic and trade development in China and Russia in the context of adjustment to global governance system from the perspective of combining economic theories with enterprises’ economic and trade practices and in the principle of combining colleges and universities with functional government departments. He also said that the Forum was expected to comply with economic and trade development needs of China and Russia, grasp the rare opportunity of the synergy between “Silk Road Economic Belt and Eurasian Economic Union”, and promote constant deepening of Sino-Russian trade cooperation.

President Maksimsev of Saint-Petersburg State University of Economics said that relations between China and Russia had developed to a new stage and the two played a vital role in Eurasia. Nevertheless, there are too many problems in the face of the two countries, such as settlement in local currency and cross-border infrastructure improvement. The two are expanding collaboration in capacity and equipment manufacturing, and promoting large projects such as Moscow-Kazan High-speed Rail, Sino-Russian oil and gas pipelines, and joint research and development of long-range wide-bodied airliners. In the future, China and Russia will see qualitative leap-forward development in economic and trade cooperation, which will become a priority of development of bilateral relations.

Director-General Gui Congyou of Department of European-Central Asian Affairs, Ministry of Foreign Affairs of China said that the theme and topics of the Forum not only complied with the current objective reality of the international community focusing on global economic governance, but also reflected benefits and needs of China and Russia to strengthen comprehensive cooperation and jointly promote the reform of global economic governance system. He also pointed out that Sino-Russian comprehensive strategic partnership maintained high-level operation in recent years and political mutual trust between the two continued to be deepened. Parties concerned, including China and Russia, are steadily promoting the synergy between the “Belt and Road” construction and Eurasian Economic Union construction, actively negotiating economic cooperation agreements and the roadmap project list for cooperation synergy. Besides, China and Russia are also discussing about working together to promote the establishment of Eurasian partnership.

Krasilinikov, representative of Free Economic Society of Russia, said that China and Russia were strengthening innovation in their economic development modes and new high-tech industry had gradually become an important field of cooperation. Cooperation between the two in new high-tech technology and high value-added industry shows great development potential.

Luo Shiwei, Chairman of China Construction First Building (Group) Corporation Limited, the winner of the first Luban Award for overseas projects by virtue of the construction project of Saint Petersburg Nieva Business Center, said that the company valued the platform of High-level China-Russia Economic Forum, and would strengthen research on Russian economy with the help of the platform, enhance cultural exchanges, inherit and carry forward the spirit of craftsman, so that cooperation in this field could be a model of Sino-Russian friendship and cooperation.

High-level China-Russia Economic Forum is a permanent forum of RUC and Saint-Petersburg State University of Economics, and is held every other year in the two universities by turns. So far, the Forum has had three sessions in each of China and Russia. This session was jointly organized by RUC and Saint-Petersburg State University of Economics, and co-organized by School of Economics RUC, National Academy of Development and Strategy, RUC and Renmin University of China-Saint Petersburg State University Center for Russian Studies.