China is to invest in the Russian timber industry as part of a US$1.5bn investment plan.
Chinese officials have signed agreements to invest in the timber industries of Russia’s far-eastern Khabarovsk region bordering China.
Other Russian industries benefiting from the US$1.5bn cash boost include agriculture and construction.
Bilateral trade between the two countries grew by one-third to US$21.3bn in 2004 and is predicted to reach US$60bn by 2010. Chinese investments in Russia rose by 82% last year.
