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Russian Vladivostok May Become Special Economic Zone – China Lawmaker

© Sputnik / Vitaliy Ankov / Go to the photo bankThe Vladivostok merchant seaport
The Vladivostok merchant seaport - Sputnik International
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President of Shanghai Academy of Social Sciences and member of National People’s Congress of China Wang Zhan stated that creating a special economic zone in Vladivostok will indicate success for Russian Eurasian initiatives.

The Hyatt Regency Vladivostok five-star hotel under construction on the Burny cape in Vladivostok. (File) - Sputnik International
Chinese Businessmen Eye Luxurious Five-Star Hotel in Russia's Vladivostok
MOSCOW (Sputnik) — The Russian Far East city of Vladivostok could become the first special economic zone within China's One Belt, One Road (OBOR) initiative, President of Shanghai Academy of Social Sciences and member of National People’s Congress of China Wang Zhan said on Monday.

"The model of special economic zones is a very important factor in the success of China's economic reform. We have Shenzhen Special Economic Zone and Pudong New Economic Zone. After visiting over 20 countries along the OBOR initiative, I think Russia's Vladivostok has the best chance to become a Shenzhen-like Special Economic Zone," Wang said at the opening ceremony of the Third International Conference "Russia and China: Taking on a New Quality of Bilateral Relations."

Creating a special economic zone in Vladivostok will also indicate success for Russian Eurasian initiatives, he noted.

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Wang added that despite the deterioration of the investment climate in Russia since the 2008 global financial crisis, Asian countries such as China, South Korea and Japan were enthusiastic about investing in the Russian eastern regions.

In 2013, Beijing launched the One Belt, One Road project aimed at improving ties between Eurasian countries and the development of infrastructure across the continent. The initiative focuses mainly on the Maritime Silk Route and on the land-based Silk Road Economic Belt.

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