Tue, June 05, 2012
China > China & World > SCO Summit 2012

China, Russia pledge closer economic cooperation amid global adversity

2012-06-05 14:00:51 GMT2012-06-05 22:00:51(Beijing Time)  Xinhua English

Chinese President Hu Jintao (R) shakes hands with his Russian counterpart Vladimir Putin during a signing ceremony in Beijing, capital of China, June 5, 2012. (Xinhua/Liu Jiansheng)

BEIJING, June 5 (Xinhua) -- Chinese President Hu Jintao and his Russian counterpart Vladimir Putin on Tuesday pledged to boost economic cooperation in the face of global adversity.

"China and Russia are both committed to restructuring their economy and addressing the risks and adverse influence in the global economy," Hu said during his talks with the visiting Russian president.

Putin is paying a state visit to China and will attend the 12th meeting of the Council of Heads of Member States of the Shanghai Cooperation Organization in Beijing scheduled from Wednesday to Thursday.

The two nations should give play to their complementary advantages and improve the quality of their cooperation, said the Chinese president.

Hu suggested that China and Russia expand their cooperation in investment, energy, high technology, large-scale projects and trans-border infrastructure as well as sub-national cooperation.

Putin, for his part, said there is immense potential and broad prospects for the cooperation between Russia and China.

The Russian side is confident that the two nations can achieve the goal for bilateral trade to reach 100 billion U.S. dollars in 2015 and 200 billion dollars in 2020, said the Russian leader. In 2011, bilateral trade volume reached 80 billion U.S. dollars, a record high showing a 42.7-percent year-on-year rise.

Putin said the Russian side hopes to coordinate with China more closely to push ahead with key projects and improve the structure of bilateral cooperation.

During the meeting, the two leaders also pledged to step up their cultural and people-to-people exchanges and law-enforcement cooperation to further advance the two countries' comprehensive strategic partnership of coordination.

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