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Chinese, Russian Presidents Ink $4B Trade, Energy Deals


Russia and China have signed more than four billion dollars worth of trade and energy agreements, on the second day of Chinese President Hu Jintao's state visit to Russia.

Mr. Hu and Russian President Vladimir Putin also launched a Chinese trade fair Tuesday in Moscow, where nearly 200 Chinese companies are showcasing their products.

Analysts say Moscow is seeking Beijing's help in boosting its high technology sector, while Beijing seeks Russian help in meeting China's vast and growing energy needs.

Among the 20 contracts signed Tuesday was a $460-million agreement by Russia's Novolipetsk Steel to supply more than 90,000 tons of steel to a leading Chinese electrical parts maker, Tebian Electric Apparatus Stock.

Mr. Hu is expected to visit Russia's mainly-Muslim Tatarstan region on Wednesday. The central region is said to hold vast oil reserves.

Monday, the two leaders called for peaceful solutions to the stand-offs over the suspect nuclear programs of Iran and North Korea.

Some information for this report was provided by AFP.

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