Enhanced China-Russia co-op conducive to regional, global prosperity

BEIJING - Gearing up to expand two-way trade and carry out more large-scale projects, China and Russia are working closely to upgrade their comprehensive cooperation, aiming not only to benefit their own economies but to spur regional and global economic growth.

Russia and China, both important emerging-market economies, are now working side by side to forge a partnership that will feature the integration of the Russia-led Eurasian Economic Union (EAEU) framework and the China-proposed Silk Road Economic Belt initiative.

At the second meeting of the China-Russia Investment Cooperation Committee, which was held in St. Petersburg on Thursday, the two sides agreed to deepen investment cooperation and implement their cooperation projects at an early date.

They also determined a list of additional large-scale cooperation projects that the two countries aim to carry out in the near future.

An enhanced China-Russia partnership will neither threaten nor infringe upon the interests of any other countries. Instead, it is quite conducive to regional and global economic growth.

As Chinese Vice Premier Zhang Gaoli pointed out on Friday, strengthening China-Russia cooperation is not only conducive to the economic growth of the two countries, but also of great importance to regional and global development.

Zhang made the remarks at the annual meeting of the St. Petersburg International Economic Forum, during which he called on the two countries to further tap into the potential and expand their cooperation by adopting diverse perspectives.

He also called on the two nations to work hard to advance the integration of the Silk Road Economic Belt initiative and Russia's aspirations under the EAEU framework.

In an interview with Xinhua on Friday, Russia's first deputy prime minister, Igor Shuvalov, said the two countries' initiatives are designed to allow both nations to flourish and benefit from successful integration.

Shuvalov also expressed his belief that coordination between the two initiatives will spur the economic growth both of EAEU members and of many other countries along the economic belt.

The ever-strengthening partnership between China and Russia is not an alliance against any other countries or coalitions. As Russian President Vladimir Putin said Friday, Russia and China do not build any military-political blocs or seek "friendship against someone."

Instead, the relationship between the two global heavyweights, which has been developing on its own basis, promotes the social and economic development of the two sides and benefits world economic growth and prosperity.