China has proposed to move their businesses to the Russian far East

China is considering the transfer of their enterprises on the territory of the Far East, reported Ministry following the talks, the Director of the Department of foreign economic activity, attract private investment and export support of the Ministry Rustam Makarov, Director of the Department of industrial development of the North-Eastern provinces of the PRC State Committee for development and reform Commission of the PRC (GCRR) Zhou Sanmina.

Talking about the initiative of the PRC export manufacturing facilities in 12 priority sectors of the economy. In particular, it concerns construction industry, metallurgy, energy, engineering, shipbuilding, telecommunications, agriculture, chemical, textile and cement industries. Chinese enterprises can be transferred to the territory of the Far East “compulsory compliance” Russian environmental requirements, said the Ministry.

The Chinese side is “ready to actively engage private and public companies to implement” such projects, said Jianping during the negotiations.

The representative of the Ministry, in turn, confirmed the readiness of the Russian side in interaction. He noted that new businesses created in the framework of priority development areas and Free port of Vladivostok, receive significant tax benefits and administrative preferences. “We are ready to take the Chinese company and create joint export-oriented production in the far East territory,” Makarov said.

Agreement on cooperation between the Ministry and the Department of industrial development of the North-Eastern provinces of China was reached during the visit of the head of Minvostokrazvitiya Alexander Galushka in Beijing. It is fixed in the Memorandum of understanding to strengthen Russian-Chinese regional, industrial and investment cooperation in the far East.