A New Advanced Development Territory amounting to $1.5 billion may be created on the Russian - Chinese border

Russia and China are discussing the creation of a new cross-border priority development area (TPD) in the area of ​​border crossing points (Primorye) — Suifenhe (China), the total investment in which could amount to $ 1.5 billion, according to the Ministry for the Development of the Russian Far East.
Foundation of the TPD was discussed by co-chairs of the intergovernmental Russian-Chinese Commission on Cooperation and Development of the Far East and the Baikal Region of the Russian Federation and the northeast of the PRC, Yuri Trutnev, President’s Plenipotentiary Envoy to the Far Eastern Federal District, and Wang Yang, Deputy Prime-Minister of the State Council of the PRC.
«The investment potential of the cross-border territory of the priority development is estimated by Russian and Chinese investors at $1.5 billion. TPD will cover an area of 413 hectares (233 hectares on the Russian side and 180 hectares on the Chinese side) with free movement of people, goods, and services in it. This area will provide duty-free trade regime,» the message says.
It is noted that Russian and Chinese residents of the TPD will be able to supply their products to the markets of both countries without any restrictions.
In Harbin, Trutnev and Wang Yang opened the Years of Interregional Cooperation between Russia and China.
Source: ria.ru