Russian-Chinese cooperation strengthens
Today, within the framework of the Forum “St. Petersburg-Regions of China: New Horizons of Cooperation”, representatives of the city government presented opportunities for the development of relations between the two parties.
As St. Petersburg Governor Alexander Beglov noted in his video greeting, cooperation between the regions covers such areas as trade, investment, construction, finance, logistics, processing and production, as well as scientific and technical research. “In terms of trade turnover, the People's Republic of China ranks first in the rating of our trading partners. Its share is already more than 1.3 of the total external trade turnover of St. Petersburg. For the period from January to September 2024, the trade turnover between St. Petersburg and China increased by 34% compared to the same period of 2023 and amounted to more than 18 billion dollars. The volume of exports increased by almost 62%.” St. Petersburg has the largest number of partner regions exactly in the city plans to increase the level of cooperation with Sichwan Province.
The financial systems, human resources and infrastructure development of the city of St. Petersburg make it a leader among other subjects of Russia. The city ranks fifth in the national rating of the state of investment climate in Russia. The city implements such support measures as granting the status of “regional investment project”, concluding special investment contracts, using the mechanism of offset contracts, as well as a special economic zone, the area of which was increased last year. “Foreign companies can also receive support measures provided they are registered in the territory of the Russian Federation, St. Petersburg,” emphasized Alexey Zyryanov, Chairman of the Committee for Economic Policy and Strategic Planning of the city.
In-demand sectors for investments from China are pharmaceuticals and production of high-tech equipment, automated systems, as well as joint research and development in the field of science and technology.
Alexander Sitov, Acting Chairman of the Committee for Industrial Policy, Innovations and Trade of St. Petersburg, noted that industrial enterprises of St. Petersburg have a powerful potential in terms of supplies to foreign markets of radio electronics, pharmaceuticals, medical equipment, power engineering products, shipbuilding and much more. The peculiarity of trade relations is a wide range of goods and mutual trade.
St. Petersburg business faces the tasks of finding promising export markets, transport routes, setting up new logistics routes to minimize the cost of transporting products to foreign markets. “Starting this year we are launching a new support measure. St. Petersburg Export Support Center will assist in the registration of St. Petersburg exporters in the information system of the Main Customs Administration of the People's Republic of China to gain access to the market of the People's Republic of China, as well as co-finance the registration of trademarks for such companies when entering the Chinese market” - said Alexander Sitov to partners from China.
The opportunities for the development of the Northern Sea Route, which will reduce the delivery time by almost two times, are also relevant. And we see interest in this issue on the part of Chinese business.
As St. Petersburg Governor Alexander Beglov noted in his video greeting, cooperation between the regions covers such areas as trade, investment, construction, finance, logistics, processing and production, as well as scientific and technical research. “In terms of trade turnover, the People's Republic of China ranks first in the rating of our trading partners. Its share is already more than 1.3 of the total external trade turnover of St. Petersburg. For the period from January to September 2024, the trade turnover between St. Petersburg and China increased by 34% compared to the same period of 2023 and amounted to more than 18 billion dollars. The volume of exports increased by almost 62%.” St. Petersburg has the largest number of partner regions exactly in the city plans to increase the level of cooperation with Sichwan Province.
The financial systems, human resources and infrastructure development of the city of St. Petersburg make it a leader among other subjects of Russia. The city ranks fifth in the national rating of the state of investment climate in Russia. The city implements such support measures as granting the status of “regional investment project”, concluding special investment contracts, using the mechanism of offset contracts, as well as a special economic zone, the area of which was increased last year. “Foreign companies can also receive support measures provided they are registered in the territory of the Russian Federation, St. Petersburg,” emphasized Alexey Zyryanov, Chairman of the Committee for Economic Policy and Strategic Planning of the city.
In-demand sectors for investments from China are pharmaceuticals and production of high-tech equipment, automated systems, as well as joint research and development in the field of science and technology.
Alexander Sitov, Acting Chairman of the Committee for Industrial Policy, Innovations and Trade of St. Petersburg, noted that industrial enterprises of St. Petersburg have a powerful potential in terms of supplies to foreign markets of radio electronics, pharmaceuticals, medical equipment, power engineering products, shipbuilding and much more. The peculiarity of trade relations is a wide range of goods and mutual trade.
St. Petersburg business faces the tasks of finding promising export markets, transport routes, setting up new logistics routes to minimize the cost of transporting products to foreign markets. “Starting this year we are launching a new support measure. St. Petersburg Export Support Center will assist in the registration of St. Petersburg exporters in the information system of the Main Customs Administration of the People's Republic of China to gain access to the market of the People's Republic of China, as well as co-finance the registration of trademarks for such companies when entering the Chinese market” - said Alexander Sitov to partners from China.
The opportunities for the development of the Northern Sea Route, which will reduce the delivery time by almost two times, are also relevant. And we see interest in this issue on the part of Chinese business.
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