BEIJING, May 4 (Xinhua) -- The Sino-Russian Regional Cooperation Park (Qingdao) started operation in the International Economic Cooperation Zone in Qingdao's West Coast New Area on April 21. It will create an international demonstration platform for local economic and trade cooperation and people-to-people exchanges, and it will become a new carrier for bilateral cooperation between China and Russia.
At the launching ceremony of the Sino-Russian Regional Cooperation Park (Qingdao), 11 cooperation agreements and memorandums of understanding related to innovation in the areas of aerospace, scientific research service, culture and art, were signed between Russia’s Far East Investment and Trade Development Bureau, business associations, enterprises and Qingdao International Economic Cooperation Zone and cooperation institutions.
The Sino-Russian Regional Cooperation Park (Qingdao) is constructed and developed by management committee of Qingdao International Economic Cooperation Zone, Vanke and Eurasia Capital. The first phase of the park covers an area of about two square kilometers and has Sino-Russian cultural and art exchange area, educational exchange area, trade gathering area, innovative industrial cooperation area, and intellectual ecological residential area.
According to the statistics released by Commerce Bureau of Qingdao, by the end of 2017, Russia had invested 96 projects in Qingdao and the total import and export value between Qingdao and Russia reached 3.07 billion U.S. dollars in 2017, with a year-on-year increase of 20.4 percent. (Contributed by Tong Wei, Edited by Zhang Aifang)
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