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Sino-Russian Trade to Exceed US$40 Bln in 2007
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The bilateral trade between China and Russia, which has been growing for eight consecutive years since 1999, may exceed US$40 billion this year, a Chinese official said on Wednesday.

 

Bilateral trade was US$20.5 billion for the first half of this year and it is likely to exceed US$40 billion for the whole year, said Wang Jingsong, an official with the European department of China's Ministry of Commerce.

 

Wang made the remarks while attending a Sino-Russia automobile cooperation forum in Harbin, capital of northeast China's Heilongjiang Province.

 

Sino-Russia trade has recorded an average annual 28.6-percent growth since 1999. Russia is China's eighth largest trade partner, while China ranks third among Russia's trade partners.

 

Both countries have planned a trade volume of 60-80 billion dollars for 2010.

 

China's non-financial direct investment in Russia was 935 million dollars, while Russia had invested 610 million dollars in China by the end of last year.

 

(Xinhua News Agency August 2, 2007)

 

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