After the talks, Zhang and Shuvalov met with a group of Chinese and Russian entrepreneurs in Beijing.

Shuvalov said Russia is a huge market for investment and is very open to a greater number of Chinese companies investing there.

The first deputy prime minister said the far eastern and Baikal areas of Russia have great potential and are expecting Chinese companies to participate in local development.

Zhang pointed out that both China and Russia are fast-growing emerging economies that have their own specific advantages in resources, technology, markets and capital. He said both sides have a strong will to step up cooperation.

"It is predictable that the coming few years will be an important period for China and Russia to expand practical cooperation in all areas," said the Chinese vice premier.

He expressed the hope that companies from the two countries would seize the opportunity, actively adapt to the changes in each other's economies and market demands, improve all-round competitiveness and contribute to economic growth in both nations.