Chinese investments will restart the Russian economy

On July 15 an online conference was held by the China Committee for the Promotion of International Trade. The event was dedicated to trade and economic cooperation between China and Greater Eurasia and the possibilities of attracting Chinese investments in Russian projects.

Deputy of the State Duma of the Russian Federation Yuri Volkov in his speech spoke about measures to support business and the population, in particular, the State Duma initiated the labor patents extension to foreign citizens on the territory of the Russian Federation: “The introduction of such a measure was caused by the Covid-19 pandemic. Many foreign citizens found themselves in a situation where the patent expired but the borders were already closed. A little earlier, largely thanks to the initiative of the Russian Union of Industrialists and Entrepreneurs, we allowed the extension of work and study visas on the territory of Russia, ”the deputy noted. Yuri Volkov also spoke about the key tools that allow doing business in the Russian Federation successfully.

Vitaly Mankevich, President of the Russian-Asian Union of Industrialists and Entrepreneurs, spoke about the Russian-Chinese trade relations and also proposed tools that would help to avoid a trade turnover decrease: “Chinese investors need to find trusted partners in the Russian Federation and then to enlist the federal and  regional authorities support. This will allow to receive tax breaks, subsidies and other support measures. The RAUIE is in constant contact with state and legislative authorities. We help bring business problems to the competent authorities”said Mankevich.

The event was also attended by the Chairman of the Council for International Economic Activity of the Eurasian Peoples' Assembly Rinat Golda, Director of the Center for the Asia-Pacific Region of the Russian New University Natalya Pecheritsa, Head of the Moscow office of the DHH law firm (the RAUIE member) Ms. Yuan Yi, Managing Partner of the law firm "Avelan” Valery Lazebny.

Following the event, the Russian side provided Chinese investors with information about prospective Russian projects and government support measures Chinese investments.