Russian deputy PM encourages Chinese investment in Russia

Russia's first Deputy Prime Minister Igor Shuvalov is visiting China, attending a Sino-Russia investment conference in Beijing today. This visit is one of a series of visits by Russian leaders aimed at strengthening economic ties after Chinese President Xi Jinping's trip to Russia.

Russia's first Deputy Prime Minister says at the conference that Sino-Russian trade has grown in leaps and bounds, but investment in Russia needs to pick up, especially in property, urban infrastructure, logistics, plane manufacturing and R&D projects.

Shuvalov says one of the factors holding back investment is the stereotypes that still exist between the two neighbouring countries.

Analysts say a better understanding of the two nations and more transparency can help dissolve stereotypical views and encourage better cooperation.

Li Demin's company has invested in Russia for more than 20 years in real estate, agriculture among other sectors. He says Chinese investors are often unfamiliar with Russian laws and customs, therefore "knowing more" will help build trust in bilateral business relationships.

Li, board chairman of Dongning Huaxin Industry & Trade, said, "The investment environment in Russia has changed dramatically in the past 20 years. Especially after President Xi's visit, our confidence in investing in Russia has increased. This meeting is a continuation of that. It helps us to get more information."

Russia's first Deputy Prime Minister also encouraged Russian business leaders to visit China to better their understanding of the investment environment in China. He also will meet with banking regulators in Beijing to discuss cooperation between the two countries' banking sectors.