MOSCOW, Sept. 2 (Xinhua) -- China and Russia need to translate the strength of their high-level political relationship into tangible results to promote common development and prosperity, said the Chinese ambassador.
Li Hui made the appeal ahead of a meeting between Chinese President Xi Jinping and his Russian counterpart, Vladimir Putin, on the sidelines of a Group of 20 (G20) summit in St. Petersburg.
China-Russia economic cooperation has great potential and the Xi-Putin meeting would help promote major cooperation projects, the ambassador told Chinese reporters.
According to official Russian figures, China invested 740 million U.S. dollars in Russia in 2012. But by the end of the first quarter of 2013, Chinese investment has grown to 2.232 billion dollars.
The pace of investment shows that time has come for major economic cooperation between China and Russia, said the Chinese ambassador.
Li said China is willing to expand investment in Russia, especially on major projects of strategic significance, so as to fulfill goals set by the two heads of state. During Xi's visit in March, the two countries agreed to boost their annual trade volume to 100 billion dollars by 2015 and 200 billion dollars by 2020.
China hopes that Russia could constantly improve its investment environment so as to boost confidence of potential Chinese investors, said Li.
The ambassador said Xi's upcoming trip to Russia and his planned meeting with Putin are of great importance. The two leaders will discuss bilateral relations and major international and regional affairs, push forward bilateral cooperation in major projects and promote strategic coordination in international and regional affairs, Li said.
China and Russia share the tasks of tackling the global financial crisis and restoring confidence as the world economy remains weak, said Li, adding that the two countries have broad consensus in this regard.
It is imperative to fully implement the consensus to be reached at the G20 summit, particularly measures to boost economic growth and create jobs, Li said.
As emerging market economies, China and Russia have maintained steady growth in recent years and have become significant parts of the international financial system. The progress itself constitutes positive contributions to the stabilization of the world economy, he said.
China and Russia will continue to work with the international community to deal with the current difficulties and help revive the world economy, he said.
Recalling Xi's first state visit to Russia in March, Li said the upcoming meeting is a good opportunity to take stock of the development of bilateral relations.
Noting that China and Russia are each other's most important partner of strategic coordination, Li said bilateral relations are at their best thanks to joint efforts.
High-level exchanges have become more frequent; pragmatic cooperation has been strengthened; people-to-people and cultural exchanges have flourished; cooperation in regional and international affairs has been enhanced, Li said.
The comprehensive strategic partnership of coordination between China and Russia goes in line with the fundamental interests of the two nations and has become a positive factor in international relations, said the ambassador.