Seminar Held to Promote China-Russia Practical Cooperation for Common Economic Development
On February 8, an online seminar with the theme of “Promote China-Russia Practical Cooperation for Common Economic Development” was held between Institute of Russian, Eastern European & Central Asian Studies, CASS and the Integration and Macroeconomics Department of the Executive Committee of Eurasian Economic Union. Cai Fang, Vice President of CASS and Sergey Glaziev, minister of the Integration and Macroeconomics Department of the Executive Committee of Eurasian Economic Union, attended and addressed the meeting.
Cai Fang points out in his speech that, the practical cooperation between China and Russia has played a positive role in two countries' respective response to COVID-19. Against the backdrop of global trade recession, the trade volume between China and Russia has only slid by a small margin as compared with last year. Investment and project contracting have bucked the trend and kept growing. Sci-tech innovation and local cooperation are also impressive. The two sides should seek synergy on a strategic level, elevate investment, deepen cooperation in new materials, biotech, aerospace, digital economy, and intelligent equipment production and R&D, further facilitate cross-border transportation channel and improve service quality, so as to promote regional stability, development and prosperity.
Sergey Glaziev speaks highly of the positive growth of the Chinese economy despite the pandemic. He cites the Chinese economic governance system as a fine example for Russia and other Eurasian economies to follow. He believes that the 14th Five-Year Plan and the Long-Range Objectives Throughout the Year 2035 will further unlock sci-tech innovation and economic vitality, and power high-quality economic development. As the pandemic brings severe challenges to the world economy, China will inject hope into the global economy by making active efforts to meet its economic development target. Eurasian Economic Union member states adopted the strategy for integrated development of Eurasian Economy by 2025 in December 2020 which has identified 11 priorities including the mechanism for promoting the synergy between Eurasian Economic Union and the Belt and Road Initiative and enhancing the competitiveness of relevant countries through closer cooperation.
Sun Zhuangzhi, Director of Institute of Russian, Eastern European & Central Asian Studies, CASS, points out China-Russia comprehensive strategic partnership of coordination faces two main tasks in the post COVID-19 era. First, against the backdrop of escalating rivaling between major countries, rising populist sentiments, headwinds against globalization and setbacks in the global governance system, the two countries should strengthen strategic interaction and shoulder due responsibilities as major countries. Second, the two countries should help each other overcome the negative impact of the pandemic by deepening practical cooperation, so as to realize rapid economic growth for the well-being of the people in both countries.
Zhang Yuyan, head of Institute of World Economics and Politics, CASS; Huang Junhui, head of Institute of Economics, CASS; Pei Changhong, former head of Institute of Economics, CASS; and Ageyev, head of Institute of Economic Strategy, Russian Academy of Sciences participated in the meeting. Experts and scholars had in-depth discussions about centering on new concepts of and drivers for economic growth of China and Russia, exploring deeply the space for common economic benefits and complementarity, and promoting higher-level convergence of interests and mutually beneficial cooperation.