Xinhua: Build shared future with greater synergy: 2025 Eurasian Economic Cooperation Forum
SHANGHAI, April 24, 2025 (Xinhuanet) – Amid the verdant canopy of Shanghai’s Yanan Middle Road, the historic Shanghai Exhibition Center, formerly the Sino-Soviet Friendship Building, once again bore witness to a vibrant chapter of Eurasian economic cooperation, marked by cultural exchange, mutual trust, and shared prosperity.
Held on April 17-18, the 2025 Eurasian Economic Cooperation Forum convened under the theme “Financial Empowerment, Technological Progress, Industrial Synergy, and Cultural Connectivity: Building a New Ecosystem for High-Level Eurasian Cooperation.” Co-organized by the China Council for International Investment Promotion, China Association of Information, National Eastern Tech-Transfer Center, China Society for the Promotion of Science and Technology Commercialization, Financial and Business Association of Euro-Asian Cooperation, Russian Union of Industrialists and Entrepreneurs, and Association of Banks of Russia, with special support from Xinhuanet, the forum featured four thematic sub-forums and extensive multilateral exchange and cooperation activities.
In an era of unprecedented global transformation, the Eurasian region stands as a pivotal engine of economic growth and a nexus of cultural convergence. The forum drew nearly 500 dignitaries, scholars, and business leaders from countries including China, Russia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan, and Romania, infusing the iconic Soviet-style venue with the warmth of multilateral dialogue and collaboration.
Synergistic Industries and Shared Opportunities
The forum echoed the spirit of the Belt and Road Initiative and the economic vitality of the Persian Gulf, as China and Eurasian nations deepened trade and economic ties. Bilateral and multilateral trade volumes continue to rise, with cooperation expanding across investment, trade, finance, energy, and industrial supply chains, fostering complementary and mutually beneficial partnerships.
“Strengthening economic cooperation with Eurasian countries optimizes resource allocation, drives technological innovation, enhances industrial competitiveness, and promotes trade liberalization,” said Zhou Xiaoyan, executive vice president of the China Council for International Investment Promotion. She emphasized the need for platforms to facilitate dialogue among enterprises, associations, and chambers of commerce, alongside robust policy coordination and government-led initiatives to foster a conducive environment for investment and collaboration.
“Last year, China-Russia trade surpassed $240 billion, setting a new record,” Alexander Shokhin, President of the Russian Union of Industrialists and Entrepreneurs, highlighted the transformative growth of Eurasian economies over the past three decades, with China’s vast, open market and robust industrial ecosystem serving as a cornerstone for regional trade and technological advancement.
Shokhin advocated for aligning the Belt and Road Initiative with the Greater Eurasian Partnership to elevate multilateral trade systems and deepen economic ties, expressing hope that the forum would continue as a high-level platform for collaboration.
Thirty-five years ago, on April 18, the opening and reform of the Pudong New Area in Shanghai heralded a new era of global engagement, providing a platform for China’s first financial trade zone, bonded area, foreign insurance company, and foreign bank. This openness fueled a nearly 300-fold GDP increase, unprecedented in world history. As Yu Jian, vice president of the China Association of Information, noted, “China remains a fertile ground for global entrepreneurs and a trusted trade partner.”
Alexander Murychev, chairman of the Financial and Business Association of Euro-Asian Cooperation and Executive Vice President of the Russian Union of Industrialists and Entrepreneurs, underscored the interconnected roles of digitalization, investment, technology, and culture in forming a competitive and inclusive development model through collaborative innovation.
China’s commitment to openness continues to grow, with 2024 marking significant milestones: a 5% increase in total goods imports and exports, totaling over 43 trillion yuan, retaining its position as the world’s top trader for eight consecutive years; service trade exceeding $1 trillion, ranking second globally; and a 10.1% rise in outbound direct investment, reaching $162.78 billion.
Shanghai’s Pudong New Area welcomed 13 new regional headquarters of multinational corporations and four foreign R&D centers in 2025, reflecting China’s enduring global engagement, as highlighted by Zhou Hanmin, Standing Committee Member of the National Committee of the Chinese People’s Political Consultative Conference and President of the Shanghai Public Diplomacy Association.
Cultural Dialogue Enriches Civilizations
Cultural exchange fosters mutual understanding, laying the foundation for broader cooperation. The Belt and Road Initiative has spurred vibrant cultural, artistic, and educational exchanges across Eurasia, enriching regional ties.
“We have been studying China’s economic policies, financial systems, and credit mechanisms, drawing inspiration from Shanghai’s rapid development,” said Bakhytbek Baiseitov, Council Member of the Financial and Business Association of Euro-Asian Cooperation and President of the Association of Banks of the Republic of Kazakhstan. “Through the Belt and Road Initiative, we’ve collaborated with China’s western regions and cities, gaining deeper insights into Chinese culture. Confucian philosophy and the Tao Te Ching are increasingly embraced in Kazakhstan, offering timeless wisdom for contemporary challenges.”
Ivan Arkhipov, Vice President of the Russia-China Friendship Association and Chairman of the Ivan Arkhipov Foundation, reflected on the historical solidarity between Russia and China. Marking the 80th anniversary of the victory in the World Anti-Fascist War, he called for upholding accurate historical narratives to safeguard international stability and justice, fostering peace and prosperity across Eurasia.
The forum also launched the “Retracing the Heroic Path” cultural exchange initiative, commemorating the 80th anniversary of the victory in the Chinese People’s War of Resistance Against Japanese Aggression and the World Anti-Fascist War. Spanning from Moscow to Beijing, the initiative will retrace historic routes, honoring martyrs and preserving history through cultural activities. Li Xiangmei, China Affairs Director of SLC Silk Road Group, and Dai Yong, Council Member of Tsinghua University’s Hero Culture Fund, emphasized the initiative’s role in inspiring societal service and strengthening the cultural foundation for Eurasian cooperation.
“Culture is the starting point for understanding the world and humanity, serving as a powerful tool for people-to-people diplomacy,” said Lyubov Kazarnovskaya, a renowned Russian opera singer, noting the growing ease of cultural and educational exchanges between Russia and China as a soft power catalyst for bilateral relations.
Anna Bezdudnaya, Editor-in-Chief of the Financial and Business Association of Euro-Asian Cooperation’s Pioneer Newspaper, Professor of Economics, and Doctor at St. Petersburg State University of Economics, highlighted efforts to amplify the Belt and Road Initiative’s cooperative ethos through media and events, building bridges for regional connectivity.
Technological Innovation and Inclusive Futures
Technology serves as a bridge to the future, with cooperation driving shared prosperity. Emerging fields like digital economy, green transformation, and intelligent manufacturing are flourishing across Eurasia, where digital infrastructure is as critical as traditional utilities. Bridging regional digital divides will shape the trajectory of the digital revolution.
Li Shunke, Vice President of the National Eastern Tech-Transfer Center, outlined China’s efforts to build a globally influential technology transfer network under the Yangtze River Delta G60 Science and Innovation Corridor. This network facilitates the exchange, transformation, and commercialization of technological achievements, fostering precise collaboration among Eurasian tech enterprises, research institutions, and capital markets. Initiatives include cross-border data flows, intelligent manufacturing partnerships, and green technology cooperation, alongside the exploration of “digital trade ports” and “technology cooperation ports” to enhance resource allocation and innovation ecosystems, injecting trust and complementarity into the Digital Silk Road.
In 2024, China’s cross-border e-commerce reached 2.63 trillion RMB, up 10.8%, with Russia emerging as the fourth-largest export market after the U.S., U.K., and Germany. A May 2024 joint statement on the 75th anniversary of China-Russia diplomatic ties emphasized deepening cooperation in service trade, e-commerce, digital economy, and sustainability.
Zhao Yue, Secretary-General of the Wanli Think Tank and Member of the Shanghai Decision-Making Advisory Committee, highlighted AI's transformative potential in cross-border e-commerce, reducing customs clearance times from 72 hours to 8 hours and lowering operational costs for customer service amid time zones and language barriers. She proposed piloting a Eurasian digital free trade zone with "sandbox" data regulation to unlock new avenues for digital innovation.
Alexander Melerzanov, Deputy Director of the Institute of Future Biophysics at Moscow Institute of Physics and Technology, noted AI’s role in reshaping societal paradigms, from enhancing education and healthcare to improving rehabilitation. Yet, he stressed that human connections remain paramount: “The world thrives on personal interactions, and relationships define our collective future.”
Financial Connectivity and Robust Credit Systems
Credit underpins economic and financial cooperation, serving as a fundamental element for efficient investment and trade. Establishing and leveraging the credit value of Eurasian governments and enterprises, promoting mutual recognition, and reducing redundant credit rating and regulatory processes can lower compliance costs and financing barriers, facilitating capital inflows and regional economic growth.
Xing Jun, Honorary Chairman of Far East Credit Rating Co., Ltd., and Special Vice President of the China Optimization Society of Capital Construction, emphasized channeling international capital to Eurasia to bolster renewable energy and technological innovation. He noted China’s stable global supply chains, comprehensive industrial systems, and pivotal role in global trade as pillars of RMB stability and low inflation. By the end of 2024, the RMB cross-border payment system spanned 185 countries, ranking as the world’s third-largest trade financing currency, aligning with Eurasian nations’ development goals.
With over 95% of China-Russia trade settled in local currencies, financial cooperation continues to expand. Yana Epifanova, Vice President of the Association of Banks of Russia, advocated for equitable financial partnerships, with China-Russia collaboration as a cornerstone in cross-border trade, fintech, and digital currencies. Efforts include establishing local accounts and branches to strengthen payment and settlement infrastructure, alongside innovations in multilateral credit recognition to advance regional economic integration and financial cooperation.
Chongqing, a financial hub in western China, boasts five national logistics hubs, connecting to over 500 ports in 127 countries, with 2024 trade reaching 715.4 billion RMB. Wang Duanping, General Manager of Chongqing Bonded Port Development And Management Group Co.,ltd, highlighted tax exemptions for imported equipment and research materials, alongside offshore accounts for foreign enterprises. Future plans focus on high-end manufacturing, digital economy, and green transformation to create a “Eurasian technology + Chongqing manufacturing + Eurasian markets” synergy.
Amid global economic turbulence and trade restructuring, the forum’s timing was opportune. Li Shuo Bing, Chairman of the Financial and Business Association of Euro-Asian Cooperation, noted that since 2022, the association has prioritized integrating the Greater Eurasian Partnership with the Belt and Road Initiative, fostering multi-stakeholder cooperation involving governments.
The forum culminated in the signing of the 2025 Eurasian Economic Cooperation Forum Joint Declaration, pledging to uphold multilateral trade systems, resolve differences through cooperation, and enhance trade and investment liberalization. The declaration advocates for a permanent forum mechanism to deepen the integration of regional industrial, supply, and value chains.
As a vast sea of interconnected economies, global prosperity hinges on multilateral dialogue, trust-building, and shared opportunities—the enduring melody of Eurasian cooperation.