On June 9, 2007, visiting Chinese Vice Premier Wu Yi met respectively with World Economic Forum (WEF) Chairman Klaus Schwab and Russia's Krasnodar Territory Governor Alexander Tkachev on the sidelines of St. Petersburg International Economic Forum in St. Petersburg, Russia.

During meeting with Klaus Schwab, Wu made positive comments on WEF's active role in promoting cooperation and coping with global challenges. She said WEF, which is advancing with the times, has turned its eyes on emerging markets such as China and Russia and helped bridge economic cooperation.

Wu said China and WEF have established sound cooperative ties and China's economy has been integrated into the world economy, playing an important role in it. China will support the summer WEF meeting slated for later this year to inject new vitality into the forum, said Wu.

Expressing satisfaction over the sound cooperative partnership with the Chinese government, Schwab said China is promoting harmonious development while WEF seeks harmony and balance between world economy, society and natural environment. WEF has invited more than 500 companies, including both multinationals and growing companies in emerging markets, to participate in the summer WEF meeting to be held in China's northeast coastal resort of Dalian, he said. He hoped that the summer meeting will play an important role for growing companies around the world to be integrated into the world economy.

When meeting with Tkachev, Wu said the development of bilateral relations is currently at an unprecedented level. The two heads of state have made an overall plan on further developing Sino-Russian ties, agreeing on the principles and direction for future development of bilateral ties, said Wu. She added that the strategic cooperative partnership has entered a new stage of comprehensive development.

Wu said the holding of activities celebrating the "Year of China" in Russia and the "Year of Russia" in China helps build mutual understanding and friendship between the two peoples and promote their mutual trust and mutually beneficial cooperation. The high-level political ties have also created favorable conditions for regional cooperation between the two countries. This year 22 provinces, autonomous regions and municipalities directly under the Central Government of China will hold more than 60 events of "Year of China" in Russia, covering areas such as economy, trade, culture and tourism. These activities will greatly push for regional cooperation between the two countries, said Wu. She hoped that Krasnodar Territory will actively establish cooperative relations with some regions of China.

Tkachev said to further develop Russian-Sino good-neighborly friendship and cooperation is a consensus shared by all levels of the Russian government and its people, which conforms to interests of both countries and their peoples. Krasnodar Territory is ready to further strengthen cooperation with China and support business cooperation, he said, adding that it welcomes Chinese well-established enterprises to participate in its local infrastructure construction and architecture industry.

Wu, at the invitation of Russian First Deputy Prime Minister Dmitri Medvedev, who chairs the organizing committee of the Russian side for the Year of Russia and the Year of China, is in Russia to attend the 11th St. Petersburg International Economic Forum and activities related to the Year of China in Russia.