Grudev said that Russia and China have not only been friendly, but also strategic partners. The two countries have frequent economic and trade exchanges. Since 2010, China has been Russia's largest trading partner, and Russia ranks ninth among China's major trading partners. In 2013, Sino-Russian trade volume reached 88.9 billion US dollars, with a growth rate of 1.6%. In the first half of 2014, total trade volume increased by 3% year-on-year to reach 43 billion US dollars.
Grugev introduced that Russia has promoted reforms in various aspects in recent years and strives to improve the investment environment. According to the environmental report released by the World Bank [microblogging], Russia's economic reforms have made great progress in 2013, and the business environment convenience ranks 92 in 2013, an increase of 28 compared with the previous two years.
He introduced that the goal of Russia's industrial revitalization and the modernization of the entire economy require innovative technologies and energy-saving technologies. In particular, the LED industry is precisely an industry that relies heavily on innovative technologies and energy-saving technologies. After decades of development, China has formed a relatively complete modern LED industry with international competitiveness. He said that the Russian government is also encouraging the development of the LED industry, and Russia encourages China and other outstanding countries to carry out LED production in Russia.
It is reported that the LED industry is one of the three major industries in Guangdong's development of strategic new industries. In the first half of 2014, Guangdong's LED industry achieved a total output value of 154.5 billion yuan, a year-on-year increase of 23.47%. It is estimated that the total output value will exceed 350 billion yuan. At present, Guangdong has become the world's largest LED packaging and display production base, LED packaging production accounts for about 50% of the world, and displays account for more than 90% of the global market, achieving a complete industrial chain from chip, package to application.
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