China has launched the first phase of an economic and trade cooperation zone in
Russia''s far east aimed at simplifying trade procedures to the benefit of both
countries, the state media reported.
Ussuriysk Economic and Trade Cooperation Zone, located in Ussuriysk city near
the border of China''s northeast province of Heilongjiang, covers 2.28 million
sq meters and is approved by both Russian and Chinese commercial authorities,
>The zone is
one of six zones China planned to establish in foreign countries - the others
being in Zambia, Mauritius, Thailand, Pakistan and Cambodia.
60 large and medium-sized domestic and foreign companies specialising in a large
variety of manufacturing and processing industries, including shoes, apparel,
timber, household appliances, automobiles and components, are expected to set
up operations in the zone, Xinhua news agency reported.
up business in the zone will enjoy preferential tax policies and comprehensive
legal and logistics services, including registration, customs and land procedures
and visa applications.
The first phase costing 400 million yuan ($53
million) has seen production lines of six Chinese enterprises go into full operation,
making shoes, wood and furniture.
The zone is expected to create more
jobs in Russia when the project comes fully on-stream
in 2010. Products will be exported to Japan, South Korea, the US and southeastern
Asian regions, with transportation and costs considerably lower than on the Chinese
mainland, the report said.