China on track in Russia (2)

Premier Li Keqiang (L) shakes hands with Russian Prime Minister Dmitry Medvedev after they sign a joint statement following the 19th China-Russia Prime Ministers' Regular Meeting in Moscow on Oct 13, 2014. [Photo/Xinhua]

HIGHLIGHTS OF THE AGREEMENTS

Support for natural gas deal

The governments of the two countries will provide relevant measures and legal guarantees toward a 30-year natural gas deal signed by both sides in May. The deal is worth $400 billion and will pipe 38 billion cubic meters of natural gas every year from Russia to China.

High-speed rail

Transportation authorities will work with leading railway enterprises to build the Moscow to Kazan high-speed railway. The comprehensive cooperation includes project design, construction, services, facilities and financing.

Avoiding double taxation, tax fraud

A bilateral agreement signed in 1994 on avoiding double taxation and tax fraud will be overhauled to further reduce the burden placed on cross-border investors, better protect China's tax interests and promote Chinese investment in Russia.

Satellite navigation cooperation

The two sides signed a memorandum of understanding on the joint application of China's Beidou Navigation Satellite System and Russia's Glonass system. A working group will be set up to push forward bilateral cooperation in satellite navigation.

Grid overhaul, construction

The State Grid Corp of China and the Unified Energy System of Russia will place priority on their first batch of cooperation projects covering grid overhaul and construction. The move will deliver more Chinese electronics and other facilities to the Russian market.

Bilateral yuan clearance and bonds

The Bank of China and the Moscow Stock Exchange will conduct in-depth cooperation on offshore yuan product studies and transactions, clearance and bond issuance. This will increase the use of the Chinese currency in bilateral clearance and investment.

Marking WWII victory

The two countries signed an action plan for bilateral cultural events next year to mark the 70th anniversary of the victory in World War II. Tourism authorities in both nations will boost cooperation among sectors and jointly explore related products.

IT cooperation

Chinese telecommunication giant Huawei will work with Russian counterpart Comcor on broader cooperation that includes servers and storage and data centers. The move is considered the first large-scale cooperation involving Chinese enterprises and Russia-based data centers.