On the sidelines of the international cooperation forum One Belt, One Road held in Beijing, in the 10th anniversary of the initiative, Food Export Trade (a part of the Russian New Land Grain Corridor Group) and Chinese state-owned company China Chengtong International, Ltd, with the participation of the State-Owned Assets Supervision and Administration Commission (SASAC), have executed a general contract to supply 70 million tons of grains, pulses, and oilseed crops produced in the Urals, Siberia and Far East, to China.
The contract has been concluded under the New Land Grain Corridor Russia - China program aimed at ensuring food security in the two countries and increasing two-way goods exchange. The program for developing grain production and grain logistics infrastructure in the Ural, Siberian, and Far-Eastern federal districts as well as supplying grains to the Chinese market is implemented in compliance with the respective order of the President of the Russian Federation of May 5, 2023 on conclusion of an intergovernmental agreement between the Russian Federation and the PRC.
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"Food Export Trade" is an authorized operator of the "New Land Grain Corridor" program for development of the grain "contract farming" and main elevator infrastructure in the Urals, Siberia and Far East regions. The company implements formula-based pricing, advanced scholar crop research, and is a holder of export contracts.
"China Chengtong" company is managed by the State Assets Control and Management Commission under the State Council of the People's Republic of China, and is designated as a state asset management company. It is a major shareholder of several central state-owned enterprises such as National Petroleum and Natural Gas Pipe Network Group Co., Ltd. (PipeChina) and China Green Development Group Co., Ltd. (CGDG). Activity areas include investments, equity transactions and asset management, as well as technology, multimodal logistics, export and import.