China on side with Putin’s plan for Far East development

China's Vice Premier Wang Yang

China’s Vice Premier Wang Yang

Far East development: Russia’s plans to plough investment into the country’s Far Eastern territories is in line with Chinese plans for the region, Chinese Vice Premier Wang Yang told delegates at the the Far East Economic Forum in Vladivostok on Saturday, “The …strategy coincides with China’s plans for northeast rebirth,” Wang said. “[The] Russia-Chinese partnership will definitely bring generous fruits.”
While there are widespread concerns that China’s economic slowdown could affect its plans to invest in the region, these were played down by Andrei Kuzyayev, a former head of overseas operations at Lukoil, who said that the development of the Far East was not a temporary whim, but a long-term goal. “We need to make up the time we have lost,” he said. “Cycles in any economy are the norm, not deviation. There will be a slowdown but obviously there will be acceleration later.”