China to invest $27m in Iran's eastern province

A senior official in the Eastern province of South Khorassan said that Chinese investors are resolved to invest an approximate amount of $27mln in the province's development projects.
Deputy Governor General of the Province for Planning Affairs Ali Rezayee said on Sunday that the government is expected to prepare the ground for presence of more foreign investors in the provinces.
He further added that the provincial officials have attracted another $10mln of foreign investment so far.
Trade between Iran and China in the past year was estimated at $45bln.
Iran is currently China's third largest supplier of crude, providing Beijing with roughly 12 percent of its total annual oil consumption.