Russia, China prepare cooperation memorandum for signing

Russia plans to invite contractors from China for housing construction, Prime Minister Dmitry Medvedev said at a board meeting of the Construction Ministry on Thursday, adding that a memorandum of understanding and cooperation between Russia and China in this sphere was being prepared for signing.
“In this way Chinese builders may be involved in building homes under our programs,” Medvedev said. He hopes this will promote competition.
Russia has a special home-building program Housing for the Russian family. Its main task is to increase the construction of economy class homes.
By the end of 2017 a total of 500,000 average income families will be able to acquire housing under this scheme. A list of regions where the program is being implemented has been authorized.