Visiting Chinese President Hu Jintao met with Russian Prime Minister Mikhail Fradkov Tuesday on bilateral ties and cooperation in various fields.

Hu, who arrived here Monday for a three-day state visit, asked the two sides to take advantage of the regular exchange mechanism between the two prime ministers and to further promote trade and economic cooperation.

China will encourage its companies to invest in Russia, especially in infrastructure construction, manufacturing, high-tech industry, timber processing, energy and natural resources exploration, Hu said during a meeting with Fradkov.

"China also welcomes investment by Russian companies in China," Hu added.

Hu called on the two sides to coordinate strategies on economic and regional development in a bid to achieve a win-win situation.

The two countries should support each other's companies to strengthen cooperation, jointly explore new markets and improve efficiency and quality, Hu said.

The Chinese president proposed the creation of a lay-out for medium- and long-term science cooperation and the speeding up of pilot projects in the fields of space, energy, new materials, chemistry, bio-technology, telecommunications and information.

Hu also called on the two sides to continue social and cultural exchanges and stimulate cooperation in education, healthcare, sports and tourism.

The Russian prime minister appreciated China's efforts in improving trade structure and increasing imports of machinery from Russia.

He proposed that the two countries should further enhance cooperation in trade, investment, energy, natural resources, nuclear energy and transportation, as well as in regional, social and cultural events.

Trade between Russia and China has maintained a rapid growth rate for eight consecutive years, reaching 33.4 billion U.S. dollars in 2006. It was expected to reach 60 billion to 80 billion dollars by 2010.

Hu and his Russian counterpart Vladimir Putin held talks Monday. The two countries signed a joint statement on ways to further develop the Sino-Russian strategic partnership of cooperation.

Source: Xinhua