China calls for joint efforts to deepen China-Russia strategic economic cooperation

Chinese Vice President Li Yuanchao (R) speaks during China-Russia Business Roundtable of the St. Petersburg International Economic Forum in St. Petersburg, Russia, May 24, 2014. Chinese Vice President Li Yuanchao on Saturday called for joint efforts of China and Russia to further deepen their strategic economic cooperation. (Xinhua/Liu Hongxia)

ST. PETERSBURG, Russia, May 24 -- Chinese Vice President Li Yuanchao on Saturday called for joint efforts of China and Russia to further deepen their strategic economic cooperation.

Addressing the China-Russia Business Roundtable of the St. Petersburg International Economic Forum, Li said that to deepen bilateral economic cooperation is integral to the building of comprehensive relations of strategic cooperation and partnership between China and Russia.

Deepening China-Russia strategic economic cooperation serves the fundamental interests of both sides, said Li, adding that the bilateral economic cooperation faces four unprecedented opportunities: the recovery and transformation of the world economy, the high degree of political mutual trust between the two countries, mutual complementarity of the respective advantages of the Chinese and Russian economies, and the economic innovation and systemic transformation of the two countries.

"I hope that the two sides could seize the opportunities with a stronger sense of urgency, deepen consensus of cooperation, expand converging interests and work together to build an even closer community of common interests," said Li.

The all-round China-Russia economic cooperation should be uplifted from a long-term perspective, Li continued, urging the two sides to follow the spirit of mutual benefit and realization of win-win results.

Beijing and Moscow should "give priority to cooperation in major projects of strategic importance and the development of the Far East," said Li, noting that the two governments should let enterprises be the main players of cooperation.

"The two governments will enhance coordination and cooperation, and further promote trade and investment facilitation, protect the legitimate rights and interests of investors and cement confidence in long-term cooperation among our businesses," said the vice president.

The three-day forum, a leading economic event in Russia, attracts some 6,500 participants from more than 70 countries and regions.