NE China city launches Sino-Russian commercial port project

Heihe, a border port city in northeast China's Heilongjiang Province, launched a construction project of Sino-Russian commercial port here Wednesday.

Vice mayor of Heihe city Zhang Tao made the announcement on the sideline of the ongoing China Economic Summit 2005.

Heihe is the closest city to Russia along the two countries' 4, 300 km-long border. The commercial port is located in Heihe's state-level industrial park, boasting an area of 266.5 hectares. The project is invested by GSL Holdings Inc., with total investment of 7 billion yuan (846.4 million US dollars).

Zhang said the commercial port will exploit the advantage of complementarity of Sino-Russian trade in terms of commodities, technology, resources and product structure.

"The port will largely promote Sino-Russian, Sino-Asian and Sino-European border trade as well as local economic development." he said, adding that it also serves a significant trade platform for those enterprises that want to join Sino-Russian trade in Heihe.

Source: Xinhua