China and Russia sign contracts worth $15 billion

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MOSCOW – Chinese Vice Premier Li Kequiang has announced the signing of contracts between China and Russia worth a total of $15 billion.

Speaking at a trade and investment forum in Moscow attended by hundreds of Chinese businessmen, Li said he and one of Prime Minister Vladimir Putin's top deputies had witnessed the signing of contracts for "transport, energy, communications, high technology and investment projects."

Li estimated the total value of the contracts signed on Saturday at more than $15 billion.

Among the specific projects named, he said Russia and China were considering the joint design of a wide-body long-distance passenger plane.

First Deputy Prime Minister Igor Shuvalov told participants in the forum that Russia was working to improve its investment climate