On October 10, 2011, Vice Premier of the State Council Wang Qishan attended the opening ceremony of the sixth China-Russia economic and business forum in Beijing and delivered a speech.

Wang said that China-Russia economic cooperation has grown rapidly and comprehensively and fruitful results have been achieved. The bilateral trade volume has increased significantly and China has become Russia's largest trade partner. The bilateral cooperation in the fields of oil, gas, coal, electricity and new energy is very productive and cooperation on major projects of aviation, aerospace, transportation and infrastructure moves forward steadily. RMB and RUB are already tradable and the bilateral local cooperation grows vigorously. Facts have proved that China-Russia economic cooperation enjoys strong endogenous dynamics.

He pointed out that this year marks the 10th anniversary of the signing of the China-Russia Treaty of Good-Neighborliness and Friendly Cooperation. The bilateral economic cooperation is facing new opportunities. China and Russia, both as fast-growing emerging economies, are devoted to promoting economic restructuring and accelerate modernization. China is implementing the "12th five-year" plan and huge market potential is being released with the rapid progress of industrialization and urbanization. Russia boasts rich energy resources, solid industrial base and advanced technologies in many areas and has formulated the innovative development strategy through 2020. Each of the two economies has its own advantages and together they share wide interests. There is a strong desire for cooperation among businesses, local governments and departments of the two sides. China and Russia will sign an intergovernmental memorandum on economic modernization cooperation to further clarify the direction of bilateral economic cooperation. He hopes the two sides seize the opportunity to turn the potential of cooperation into real results. The Chinese side has the following proposals: first, consolidate the momentum of rapid growth of the bilateral trade, optimize the trade structure, regulate the trade order and enhance both the size and quality of trade. Second, expand mutual investment, deepen financial cooperation and promote a number of large projects. Third, strengthen technological innovation and promote industrial upgrading. Fourth, deepen regional cooperation, speed up cross-border infrastructure construction of roads, railways, bridges, power grids, oil and gas pipelines and communication lines, develop border trade and explore the building of border trade and economic cooperation zones. Fifth, grow tourism into a new highlight of cooperation. The "year of tourism" events to be held by the two countries next year and the year after next year will create new business opportunities for the development of tourism of both sides.

He said that the current global economic situation remains grim and it is imperative to reinforce international cooperation, boost market confidence and spare no effort to promote the stable recovery of global economy. China and Russia should continue to work together to meet challenges and work hard to push for the stable and healthy growth of domestic economy. The Chinese government is willing to work with Russia to create a good environment for the bilateral business cooperation and build a bright future for the bilateral economic cooperation.

Russian Deputy Prime Minister Alexander Zhukov also addressed the opening ceremony. He said that the current Russia-China economic and trade relations enjoy a sound momentum of development. As the US and most European countries still face severe challenges, Russia-China economic and trade cooperation is an important stabilizing factor in the global economy. The global financial crisis has exposed the shortcomings of the old development pattern. Both Russia and China need to explore new development approaches and enhance competitiveness. This year, the Russian government has formulated the development strategy with innovation as the focus. China has also set up ambitious development goals by 2020. The development policies of Russia and China have similarities, the two economies are highly complementary and the mutually beneficial cooperation has broad prospects. He believes that this forum will help further promote the exchanges and cooperation between the Russian and Chinese business communities.

Before the opening ceremony, Wang and Zhukov jointly attended the signing ceremony of the forum. Chinese and Russian enterprises signed altogether 16 cooperation projects on trade, technology transfer, collaborative R&D and production, investment and mineral development, totaling more than US$ 7 billion.

The forum is co-hosted by the Chinese Ministry of Commerce and the Russian Ministry of Economic Development. Its theme is cooperation, innovation and economic modernization. More than 500 delegates from the governments, regions, enterprises and financial institutions of the two countries attended the event.