Heilongjiang Province is located near the eastern border of Russia. Thus, this border is very important for both China and Russia. The Heilongjiang Province, in 2007, plans to double its imports and exports with Russia from the 2004 figures in order to boost trade and relations with Russia. There is a long-term cooperation with Russia for exploring different industries in the area, such as wood, paper and paper pulp processing. In order to boost trade with Russia, the province is also rebuilding several of its ports and invests and construct in several other smaller ones. The main cooperation between the province and Russia has been with science and technology, as well as agricultural technology and industrial technology. There is even a Sino-Russian Friendship Science and Technology Park and International Science City located in Harbin.
Foreign investors seem upbeat about the city. The Harbin Trade and Economic fair, has been held for 17 years annually, cumulatively attracting more than 1.3 million exhibitors and travellers and resulting in contracts of over US$90 billion. Japanese, Russian and Eastern European nations are increasingly looking to North China and Harbin for investment. Foreign direct investment remains low, but is growing as a result of government efforts, with utilized FDI totaling US$570 million, up 28.1 percent, in 2008.
Sino-Russia border trade market keeps being a well-known touring place for trade, shopping, sightseeing, local food, recreation and cultural events. The main cooperation between the province and Russia has been with science and technology, as well as agricultural technology and industrial technology. There is even a Sino-Russian Friendship Science and Technology Park and International Science City located in Harbin. China and Russia's market potential in the two countries is enormous, and cooperation in economy and trade has a bright future.
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