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Putin expects Chinese firms to make "significant contribution" to Russia's Siberia, Far East

Xinhua, July 10, 2015 Adjust font size:

Russian President Vladimir Putin said here Friday that Russia expects Chinese companies to make "significant contribution" to the development of Russia's Siberia and its Far East region.

"I think that Chinese companies could make a significant contribution to the development plans and objectives that we set for ourselves in the region (of Siberia and the Far East)," Putin said at a press conference after the BRICS and SCO summits concluded here in the southwestern Russian city of Ufa.

According to Putin, the participation in Russia's regional development plans would also bring about interests to Chinese enterprises.

Meanwhile, Putin expressed his confidence in the Chinese economy, even though the Chinese stock market is currently in chaos.

The Chinese stock market plunged by 30 percent from its June 12 peak, while Chinese shares have staged a two-day rebound with the benchmark Shanghai Composite Index leaping 4.54 percent to finish at 3,877.8 points on Friday.

"(The current chaos) is nothing special, and I believe that China has been and will remain the locomotive of the world economy," Putin said.

He added that the situation of China's stock market was discussed during his meeting with Chinese President Xi Jinping, while Xi took a rather calm attitude toward the issue.

The 7th BRICS summit and the 15th meeting of the SCO Heads of State Council were held here on July 8-10 under Russia's rotating chairmanship. Endi