The first Sino-Russian forum on small and medium enterprises opened at the Diaoyutai State Guesthouse in Beijing, on April 21, 2015.

Zhang Gaoli, vice premier of China’s State Council, Arkady Dvorkovich, the Russian deputy prime minister and Ren Hongbin, Chinese director of the Russian-Chinese Friendship, Peace and Development Committee attended the opening ceremony.

Ren Hongbin, chairman of the Sinomach, gives a speech at the Sino-Russian Forum on April 21.

Zhang Gaoli said that the forum would boost the innovation of Chinese and Russian enterprises, and alleviate their stress in the economic downturn. Both Chinese and Russian governments attached great importance to the forum.

With energy cooperation and mutual direct investment, the bilateral trade volume between China and Russia is expected to double within five years. The two countries will enhance cooperation in developing small and medium enterprises, according to the deputy prime minister Dvorkovich.

Ren Hongbin said that trade cooperation is changing, and there is a high potential for cooperation between China and Russia.

The two countries are establishing a Eurasian high-speed transport corridor linking Beijing and Moscow, to promote new development of the Russian Far East. The Belt and Road Initiative will explore potential in cooperation, added Ren.

The forum was followed by the inauguration ceremony of the Russia Center of China Overseas Development Association.

The forum was jointly sponsored by Russian-Chinese Friendship Peace and Development Committee and China Overseas Development Association. During the two-day forum, the participants will join group discussions on financial, legal protection of small and medium-sized enterprises, media and tourism cooperation.

Meanwhile, the two countries will conduct B2B exchanges in 15 practical fields and sign cooperation agreements.