Actuality October, 2007

“Commodity turnover of Russia and China can exceed $40 billions in 2007 against $33,38 billions in 2006”, reported Boris Titov, the chairman of Russian part of Russian-Chinese business council, at

the press conference.

“The structure of mutual trade continues to remain unbalanced with predominance of the large stake of energy vector and raw materials”, he acknowledged.

In opinion of B.Titov, to promote the increase of

the Russian export of hi-tech products to China will be

the created at support of RCBC the Russian-Chinese chamber in assistance

of trading

of technical engineering and innovative products.

He marked that for its more successful activity it is necessary to develop in Russia a range of measures of governmental support of large projects and apply the measures of organizational and financial support of Russian enterprises, participating in holding of tenders on the territory of China.

One of the problems in intergovernmental business cooperation is the lack of branch specialists,

knowing both languages (Russian and Chinese), B.Titov considers. According to his opinion, it is necessary to create Russian schools of business on training

of such specialists.

B.Titov reported that presently at support of RCBC in 12 regions of Russia are realized more than 20 major projects on a sum total more than $5,5 billions. Among the significant projects he named the supply by Russian Limited Company “EEC of Russia” of electric power to China, specifying, that in 2006 the Russian export made more than 500 millions kWh, by 2010 supplies

of electric power are planned to increase up

to 18 billions kWh a year, and by 2015 it is assumed

to bring the volume of export up to 60 billions kWh a year.

The second large project B.Titov considers building of railway bridge over Amur, investments in which, on preliminary estimates, will make RUR 6 billions ($240 millions). “The supposed volume of transportations over a new bridge will attain 20-22 million tons by 2015″.

According to B.Titov, presently at direct participati on of RCBC were resumed the negotiati ons on deliveries of Russian airplanes Tu-204 to China and on the project of joint elaboration of wide-body mid-trunk airplane.

Besides, industrial cooperation is realized in motor industry (PLC “Ulyanovskij motor plant”), and also in the production of equipment for oil production and transportation (Scientific Production Organization “Rosindustry-Holding”).

As B.Titov reported, RCBC considers cooperation in a construction sphere very promising, in particular, organization of the project financing

of the programs of the Russian developing companies with the assistance of the largest Chinese banks.

“This way follows the group of companies “Peresvet”, attracting for realization of regional construction program the financing of the Chinese banks at the rate of $1,5 billions”.

B.Titov explained that realization agreement of this program should be signed on November, 6 in Moscow.

He specified that the essence of the project is in crediting of Chinese construction firms, “carrying out contractor’s works on the Russian territory under the guarantees of the Russian part to pay completely  the costs of works after the take of object into use”.