China, Russia, Mongolia sign economic corridor plan: Xinhua

China, Russia and Mongolia signed a development plan on Thursday to build an economic corridor that will boost transport links and economic cooperation among the three neighbours, Xinhua news agency reports.

The plan comes after China’s President Xi Jinping said mainland companies had invested nearly US$15 billion in countries participating in Beijing’s new Silk Road initiative in 2015 – up one-fifth from 2014.

The plan was signed by Xi, Russian President Vladimir Putin and Mongolian President Tsakhiagiin Elbegdorj in the Uzbekistan capital of Tashkent.

Xi called on the three countries to build the economic corridor, strengthen cooperation in transportation infrastructure connectivity, port construction, industrial capacity, investment, trade and economy, cultural exchanges and environmental protection in an effort to expedite results, Xinhua said on Thursday.