An agreement on establishing of the Russian-Chinese Business Council (RCBC) was signed on October 14^th, 2004 during official visit of the President of the Russian Federation Vladimir Putin to the People’s Republic of China. Both President of Russia Vladimir Putin and Chairman of the PRC Hu Jintao were present at the agreement signing ceremony.

RCBC was founded to promote joint economic projects both in Russia and China and to facilitate cooperation between Russian and Chinese business community.

Currently RCBC unites more than 100 largest Russian and Chinese enterprises, companies and business associations. It consist of Russian and Chinese parts. Chinese part that is based on Committee of International Trade Development Assistance includes more than 40 major Chinese enterprises.

The mission of RCBC is to adjust direct contacts between Russian and Chinese business people, to implement joint projects, to protect mutual investments and to settle any corporate disputes.

With organizational and financial support of RCBC in 2006 has been held the First Russian-Chinese Economic Forum of business circles. More than 550 Russian businessmen have taken part in that occasion.

RCBC develops investment cooperation with the Chinese partners and carrying out Russian-Chinese investment forums.

At the present moment at direct support of Russian part of RCBC are being realized more than 20 large-scale Russian-Chinese projects in the field of mechanical engineering, metallurgy, aircraft constructions, transport, an agriculture, construction of industrial targets, electrical engineering, nanotechnologies for a total sum more than 5,6 billion dollars.