China, Russia hold business forum in Shanghai with Russian PM

Shanghai, China, May 23 (EFE).- China and Russia will hold a business forum Tuesday in the eastern megalopolis of Shanghai, considered the economic capital of the country, before the official visit of Russian Prime Minister Mikhail Mishustin, official newspaper Global Times reported.

Experts quoted by the official Chinese press said the forum would serve to “deepen industrial cooperation in sectors such as high technology or information technology,” as well as to reinforce the “globalization trend.” It comes at a time when the debate goes through the possibility of an economic decoupling.

Mishustin – invited by Chinese counterpart Li Qiang – will visit China Tuesday and Wednesday and will also go to Beijing, the Chinese foreign ministry said.

The Global Times said that, according to data from Chinese Customs, trade between the two countries increased by 41.3 percent year-on-year in the first four months of this year.

However, one of the analysts quoted by the newspaper points out that both countries should expand their commercial ties to sectors with higher added value, since these are currently focused on the exchange of resources and raw materials. EFE


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