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Insuring to boost trade, investment
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CHINA and Russia will cooperate in regulating insurance activities to boost bilateral trade and investment links.
The China Insurance Regulatory Commission and Russia’s central bank yesterday signed a memorandum of understanding in Turkey on the sidelines of the G20 Summit to expand cooperation in tourism insurance, major project construction financing and risk control, and reinsurance, a statement said.
“Enhancing insurance regulatory and business cooperation between the two countries will inject new power to bilateral trade and investment,” the statement said.
“It will have positive significance to key construction projects by China and Russia, and will support the Belt and Road strategy.”
The Belt and Road initiative, proposed by President Xi Jinping in 2013 and comprising the Silk Road Economic Belt and the 21st Century Maritime Silk Road, aims at building a trade and infrastructure network connecting Asia with Europe and Africa.
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