Russia is planning to export 10 more Tu-204-120-S planes, powered with Rolls-Royce engines, to China, a Russian government source said on Wednesday.

"We can do this under the contract to export five Tu-204-120-S planes to China, signed in 2001, and the issue is likely to be negotiated during Prime Minister Mikhail Fradkov's visit to China beginning November 3," the source was quoted by Interfax news agency as saying.

According to the source, all financial procedures of the deal to export five planes to China have been done.

The first plane is expected to be delivered to China in September 2006 and the second one in December, followed by the third, fourth and fifth in 2007, the source said.

Russia is interested in using the contract to deliver 10 more Tu-204-120-S airplanes with Rolls-Royce engines to China, the source noted.

China to boost business cooperation with Russia

Chinese Vice Premier Wu Yi set forth three proposals to further boost Sino-Russian business cooperation, calling on business people from both nations to seize the opportunity to expand cooperation.

Wu said this while she was co-hosting a Sino-Russian business seminar with her visiting Russian counterpart Alexander Zhukov on Tuesday.

Wu suggested that Chinese and Russian businesses should further increase their understanding of the laws and regulations of the two countries.

Wu also proposed that the two countries boost trade in mechanical and electrical products and enhance the quality of trade cooperation.

"Chinese companies should further improve their product quality with a higher standard of technological input and post-sale service and increase investment and production," Wu added.

She also called on Russian businesses to promote the marketing of their products and further integrate their businesses with the Chinese market through trade, investment and technological transfers in their respective fields.

Wu also said that in the spheres of nuclear power, space and information, the two business communities should cement coordination and further open the market to realize win-win cooperation.

Wu cited China and Russia as the biggest neighboring nations to each other, which have scored a rapid growth of the trade in recent years, adding that two-way trade is expected to surpass US$28 billion this year.

"Nevertheless, China-Russia trade is not big enough considering the economic power of the two countries and the two business communities should endeavor to seize the chance to boost business cooperation", Wu added.

Zhukov expressed his overall satisfaction with Russia-China trade cooperation, saying Russia hopes to expand exports to China and increase the export of items to lure more Chinese investment into Russia.

Enterprises could increase cooperation in the fields of product processing, energy, and new and high technology innovation, Zhukov said.

He also expressed the hope that Russian and Chinese banks could play an active role in offering relevant financial services, and that Russian enterprises would make their products more competitive in the Chinese market.

(Xinhua News Agency November 3, 2005)