BEIJING, Feb. 17 (Xinhua) -- China and Russia on
Tuesday signed seven agreements on a package cooperation program for energy
resources.
The agreements include a pipeline construction
project, a long-term crude oil trading deal and a financing scheme between the
China Development Bank and the Russia Oil Pipeline Transport Company, according
to a source with the Chinese Foreign Ministry.
Chinese Premier Wen Jiabao (R) meets
with Russian Deputy Prime Minister Igor Sechin at Zhongnanhai in Beijing,
China, on Feb. 17, 2009. (Xinhua/Yao Dawei) Photo Gallery>>>
According to the agreements, the crude oil trading
volume is estimated to reach 15 million tonnes, the source added.
The signing ceremony was witnessed by Chinese Vice
Premier Wang Qishan and visiting Russian Deputy Prime Minister Igor Sechin.
During the previous talks held between the two, Wang
highlighted that the strengthening of the bilateral energy cooperation between
the two sides would help stabilize the two economies.
"We hope the two sides will give a full play to the
bilateral energy negotiation mechanism to promote the bilateral energy
cooperation to score substantial outcomes," Wang told Sechin.
The Russian deputy prime minister agreed with Wang's
views, calling on the two countries to step up cooperation in such fields as
energy and finance and make joint efforts to guarantee the contracted projects
be implemented according to the agreed roadmap and schedule.
The two sides also agreed that the bilateral energy
cooperation already scored a "substantial step forward."
Chinese Vice Premier Wang Qishan (R)
shakes hands with his Russian counterpart Igor Sechin at the Great Hall of
the People in Beijing, capital of China, Feb. 17, 2009. Senior Chinese and
Russian officials headed by Wang and Sechin held a high-level energy
negotiators' meeting here on Tuesday. (Xinhua/Yao Dawei) Photo Gallery>>>
In a following meeting with Chinese Premier Wen
Jiabao, Sechin said that the achievements of this visit indicated the high level
of the bilateral strategic partnership of cooperation.
Russia would work with China to make more
achievements to celebrate this year's 60th anniversary of forging diplomatic
ties, Sechin said.
Wen said the agreements are fruits of friendly and
strategic cooperation between the two countries, adding the cooperation is of
high significance for the two countries to work together to cope with the
international financial crisis and advance their relations.
The energy cooperation between the two nations is
long-term, comprehensive and sustainable, Wen said, hoping that the related
organs would act promptly to implement all the agreements.
Official statistics showed that Russian-Chinese
bilateral trade posted a rapid growth in the first half of last year but slowed
in the second half, especially in the fourth quarter, as the global economic
turmoil spread.
Trade between the two countries was valued at 56.8
billion U.S. dollars last year, up 18 percent year-on-year. It was sharply down
from 44.3 percent of growth rate in 2007, according to data from the General
Administration of Customs.
Russia's gross domestic product (GDP) grew only 5.6
percent year-on-year in 2008 because of the financial crisis and drastic decline
in income from oil exports. The growth rate was 2.5 percentage points lower than
a year-earlier level.
BEIJING, Feb. 16 -- The deepening financial crisis has put
China's energy industry in a tougher situation: energy demand is dwindling,
production is sagging, stockpiles are rising, and energy companies are competing
to cut prices. Meanwhile, the nation's giant oil and electricity firms are
losing money by a large margin.
However, the temporary energy glut will not stop China
from expanding energy output: it needs more when its economy starts to recover.
Full story
BEIJING, Dec. 29 (Xinhua) -- China is ready to continue
cooperation with Russia in 2009, said Chinese Foreign Minister Yang Jiechi on
Monday during a telephone conversation with his Russian counterpart Sergei
Lavrov.
Yang said the Sino-Russia strategic partnership has reaped
fruitful achievements in 2008, the growth of Sino-Russia ties has benefited the
two peoples, and contributed significantly to maintaining world peace and
stability. Full story
LIMA, Nov. 23 (Xinhua) -- Chinese President Hu Jintao said
Sunday that China and Russia should strengthen strategic coordination at a time
when the global political and economic structures are undergoing the most
profound changes since the end of the Cold War.
Hu made the remarks at a meeting with his Russian
counterpart Dmitry Medvedev on the sidelines of the 16th Economic Leaders'
Meeting of the Asia-Pacific Economic Cooperation (APEC) forum in Lima, Peru. Full story
