According to the report released by Subo recently, the deputy minister from MIIT, as is known to all, China and Russia are highly complementary in economic and industrial areas especially in the raw material fields. Thus both sides should intensify the mutual cooperation further in the development of iron ore and petrochemicals. Besides, we should also encourage both countries to deepen the relations in steelmaking industry.
The above report was made by Subo in a meeting with Denis Manturov, the vice president of the Industry and Trade Ministry from Russia. In addition, Subo also pointed out that Russia is historic in Shipbuilding industry and owns the sophisticated technologies in this sector especially in the aspect of high-intensity steel development and related equipments. Thereby, to strengthen the ties in the above industries will be beneficial to both countries and it belongs to a win-win strategy.