Chinese investors take interest in Tula region of Russia

Chinese investors take interest in Tula region of Russia
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Relations between Russia and China are flourishing, Deputy Governor of the Tula region of Russia, Vyacheslav Fedorishchev, said at a meeting with a delegation of the Chinese GAC Motor.

The region’s cooperation with Chinese partners is on the rise. So, the foreign trade turnover between the Tula region and China reached 15 billion rubles ($223 million) last year, which is 47% higher compared to the 2016 year, the regional government’s press office said on Monday.

The Tula region has already had a successful experience in working with Chinese partners. In this connection, Vyacheslav Fedorishchev told about the cooperation with Great Wall Motor, a company which had completed the construction of its car factory on the premises of the Uzlovaya Special Economic Zone. An agreement with China Poly Group Corporation will be soon added to the region’s investment portfolio. The company is going to build a plant for processing rape and soy.

Speaking at the meeting, Deputy General Manager of GAC Motor, Li Shao, has expressed his desire to get familiarized with the conditions of business development in the Tula region and invited his Russian partners to make a return visit to China.

As a reference, GAC Motor specializes in the automotive industry. The main products of the holding include light-duty, universal, hybrid, and two-fuel vehicles, as well as off-road vehicles and electric cars.