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Trade Fair Generates More China-Russia Contracts
Chinese and Russian businessmen signed nearly 266 million US dollars worth of trade contracts at the 13th Economic and Trade Fair, which closed Wednesday at Suifenhe, a port city in northeast China's Heilongjiang Province.
Of all the contracts, Chinese enterprises signed export contracts worth 75 million US dollars with 14 Russian business groups and 27 enterprises during the fair.
Some 15 bilateral economic cooperation projects involved joint investment worth over US$1.9 million. Another 12 projects drew foreign investment of nearly US$290 million.
Sino-Russian trade volume hit a record high in 2000 with US$8 billion, a 39.9 percent increase over 1999, sources from China's foreign trade ministry revealed.
Latest statistics released by the General Administration of Customs showed that China's exports to Russia totaled US$2.23 billion last year, 49.2 percent up from 1999 and the highest since 1993.
In addition to traditional export commodities including garments, shoes and food, China's exports of machinery and electric appliances increased by 73.2 percent last year to US$234 million.
China's imports from Russia also reached a new high last year with 5.77 billion U.S. dollars, up 36.6 percent from 1999.
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