THE STATUS AND CHALLENGES OF SINO-RUSSIAN FAR EAST COOPERATION

Abstract

The legal basis for Sino-Russian cooperation in the Russian Far East is gradually being improved. The transition from the national level to the regional level has made cooperation more targeted. The main areas of cooperation between China and Russia in the Far East are mineral resource development, forests, energy, trade, and transportation. In 2018, the bilateral trade volume reached 107.06 billion U.S. dollars, of which the trade volume between Russia and Northeast China exceeded 23.5 billion U.S. dollars, accounting for 21% of ChinaRussia bilateral trade, an increase of 4% compared with 2017. The main challenges facing both China and Russia are the need to improve the business environment in Russia, the need to improve the protection mechanism of foreign investors’ rights and interests in Russia, and the need to change the alertness of Russia. The challenge for China is that there is a large gap in investment strength with Russia. Before cooperation The local laws of Russia should be studied carefully, and the state should gradually improve the protection mechanism for investors.