June 11, 2007 (LPAC)--Enterprises of China and Russia signed some 18-19 contracts worth some US$2 billion at the St Petersburg Forum June 10, where Chinese Vice Prime Minister Wu Yi, responsible for international economic relations, addressed the Forum at a panel on Chinese-Russian economic relations with Russian Vice Premier Alexander Zhukov. China sent the biggest trade delegation it has sent overseas since 2005, with 200 senior managers of over 100 companies, including China Petroleum & Chemical Cooperation, Chinese International Marine Containers, China Grain Company and China Construction Corporation. The next day, the Export-Import Bank of China also opened its first representative office in St. Petersburg.

Wu Yi is also in Russia for the "Year of China" in Russia, to foster economic, cultural and political relations between the two nations. Last year was the "Year of Russia" in China. China is investing in Russian energy, mineral resources, forestry, and construction.

Wu Yi also attended a board meeting of the Shanghai Cooperation Organization (SCO) Business Council, where she said China wants more economic cooperation with the SCO--which includes not only Russia and China, but also Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan. These nations have now "entered a new period of substantial cooperation, Wu Yi said, with trade tripling over six years ago.

China and Russia will also build their first international bridge, across the Amur River from the far eastern Birobidzhan region of Russia to Heilongjiang, northeast China. The bridge will be built by 2010.