On June 12, 2007, Chinese Vice Premier Wu Yi attended a laying-foundation ceremony of a Chinese Trade Center in Moscow. Russian Deputy Prime Minister Alexander Zhukov and Mayor of Moscow Yuri Luzhkov were also present at the ceremony.

"Chinese government attaches importance to economic and trade relations with Russia and has strived to create a sound platform for cooperation between companies from the two countries," said Wu in her speech made at the ceremony. She said the construction of the Chinese Trade Center in Moscow, as required by rapid development of such relations, will provide good business service for companies from the two countries. She expressed hope that the center, as an example for large Chinese-invested projects in Russia, will play an active role in enhancing economic and trade cooperation between the two countries.

Zhukov said thanks to the joint efforts of the two heads of state, Russian-Chinese relations have achieved rapid development in recent years. The strategic partnership of cooperation has witnessed new progress as well as frequent exchange of people and soaring trade volume, he said. This project, as an example of strategic cooperation between the businesses of the two countries, is of great significance, he said. Zhukov expressed hope that it will become an important base for business exchanges and investment cooperation between the two countries, to bridge trade cooperation.

The real estate project, funded by Chinese leading companies, consists of office buildings, hotels, exhibition centers and malls. With a total planned area of 200,000 square meters and a 300 million-U.S.-dollar first phase investment, the project was expected to be put into use in 2010.