Chinese-Russian trade in the machinery manufacturing industry remains strong, and more Chinese machinofacture companies are seeking to expand into Russia amid the supportive policy environment fostered by both governments, a Chinese embassy official said on Tuesday.
Li Jingyuan, a minister-counselor at the Chinese embassy in Russia, said the two countries' closer cooperation in machinofacture has become a new economic growth driver. He made the comments during the opening ceremony of the second China Machinery Fair in Russia.
The three-day exhibition which began on Tuesday in Moscow was co-organized by the local governments of Wenzhou and Taizhou in Zhejiang province, and the China Council for the Promotion of International Trade.
Over 140 Chinese companies from more than eight Chinese provinces and municipalities participated in this year's event, demonstrating the latest Chinese manufacturing technology to the Russian people.
Ministry of Commerce data show the volume of mechanical and electrical products exported from China to Russia exceeded 16.6 billion U.S. dollars in the first eight months of this year, increasing 18.5 percent year-on-year.
"Russia needs industrial equipment, engineering and agriculture machinery, and manufacturing lines to develop domestic industry, to improve basic infrastructure and to meet people's consumption demands," said Wang Guiqing, deputy director of the China Chamber of Commerce for Import and Export of Machinery and Electronic Products.
Murat Rasulov, an investment consultant from Smolensk Oblast, said he has visited the China Machinery Fair since the first event last year.
"We already knew and got in touch with some big companies from China, such as Sany Corp and XCGM Group, and we hope to have more opportunities to meet more local companies at the exhibition," Rasulov said.
Wellzoom International Trade Co could be one such company. Established in 2003, the Shanghai-based company specializes in trading mechanical and electric products.
The company's General Manager Wu Xiaodong said it had focused on Southeast Asia in the past decade, with the expo being its first step into the Russian market.
"It is a very good time for the company to enter the Russian market, because the relationship between China and Russia has reached its highest-ever level, and the policy advantages will surely attract us, or other Chinese companies, to find more partners in this country," Wu said.