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The foreign ministry reported on March 21 that on the 21st, Russian President Vladimir Putin arrived in Beijing at the invitation of Chinese President Hu Jintao and began a two-day state visit to China. It is expected that Putin will seek more orders for machinery and equipment from China.
Putin has always been committed to diversifying the Russian economy and making it independent of crude oil and gas, which accounts for about a quarter of Russia’s total economic output. The Russian government is expanding its control over machinery manufacturing and high technology, including the automotive and aerospace industries, to stimulate economic growth.
In 2005, Russia’s exports of machinery and equipment to China fell by about 50% year-on-year, although in the same period its overall export performance to China, the world’s fastest growing economy, showed an increase. In 2005 Russia’s performance against China represented a trade surplus, and its The main export products include crude oil, timber, fish and other resources.
Putin said in an interview with Chinese media on the 21st that it is necessary to take more active measures to promote the competitiveness of Russian machinery and equipment in the Chinese market, especially in those areas where Russia has a clear competitive advantage. The first is nuclear facilities and conventional power. Equipment and mining equipment.
Putin said that adjusting Russia’s export structure to China should be the primary goal of both parties.
On the same day, Putin arrived in Beijing accompanied by business representatives including the CEO of a large Russian company. Putin will hold a meeting with Hu Jintao and sign an agreement on trade and investment relations.
Putin visits China to seek more machinery orders
Russian President Putin visited China on the 21st and is expected to seek more orders for machinery and equipment from China.