China attaches great importance to cooperation in innovation with Russia and stands ready to work with it to improve both countries' ability and competitiveness in the field of scientific and technological innovation.

The remarks were made by Chinese Vice Premier Wang Yang while addressing the opening ceremony of the sixth International Industrial Trade Fair, or INNOPROM, held in the Russian city of Yekaterinburg, Tuesday.

While different countries are facing new challenges in the socio-economic development following the global financial crisis, a new round of revolution in science, technology and industry emerges and new modes of business and means of production are flourishing, which offer new hopes to the continuous growth of world economy, Wang said.

Given China's economy has been undergoing the transition to the "new normal" after fast growth of more than three decades, it is necessary for the country to step up structural adjustment, transformation and follow the path of innovation-driven growth, Wang noted.

China has been implementing a plan titled "Made in China 2025," aiming to enhance the country's manufacturing capacity under the guidance of technological progress, knowledge-based transformation and green development, and to help the Chinese economy continue growing at a higher speed.

Wang stressed that China's innovation-driven development push presents many opportunities for cooperation and mutual benefit, reiterating China values highly innovation cooperation with Russia and is willing to work with Russia over improving both countries' capabilities of scientific and technological innovation and overall industrial competitiveness, based on exploring the best of China's industrial, capital and market advantages and of Russia's edges in technology and talent.

Russian Deputy Prime Minister Dmitry Rogozin, who was also present at Tuesday's opening ceremony, said the fact that China attends the 6th International Industrial Trade Fair of Russia as the Guest of Honor shows that the two sides' economic and trade cooperation has advanced to a new and higher level.

Rogozin urged business representatives from Russia, China and other countries to carry out more contacts and exchange ideas thoroughly during the trade fair to facilitate more cooperation.

The 6th International Industrial Trade Fair, an annual event held in Yekaterinburg since 2010, attract business delegates from more than 70 countries, including delegates from more than 130 Chinese businesses. The trade fair will run from July 8-11. (Xinhua)