A commercial area at the China-Russia Industrial Park in the Harbin New Area opened to the public in mid-August.
 
The China-Russia Industrial Park was put into construction in February. The commercial area features characteristics of China and Russia and can be used for both commerce and tourism.
 
The area is called Tverskaya after the world-famous street in Moscow, Russia.
 
Real estate developer China Vanke has invested 20 billion yuan ($3 billion) in the China-Russia Industrial Park. The park was built for cross-border cooperation, and the integration of city and industry, local officials said.
 
With a planned construction area of 1.5 million square meters, the park is set to be completed in the next three to five years. In total, it has attracted 620 million yuan in investment.
 
Currently, the park has attracted 62 businesses and 18 of them have completed registration under the help of the new area, according to Ni Qingli, manager of the business attraction department at the park.
 
Businesses in the park are expected to generate an output value of 500 million yuan in 2021, Ni said.
 
The construction of the park has been planned based on the wider industrial development in Harbin, he added.
 
It covers a hub for demonstrating industries, an industrial economic belt and four centers of finance and trade, culture and art, technological innovation and international cooperation in production capacity, he explained. The financial center will give full play to the institutional innovation in the area to build a headquarters for exports to Russia. It aims to complement the shortages of Chinese manufacturers in developing brands and offering financial services in Russia.
 
In addition, the culture and art center will promote cultural exchanges between China and Russia based on the Belt and Road Initiative. The scientific innovation center will gather resources from the two sides to achieve greater technological cooperation, locals officials said.
 
At the center for international production capacity cooperation, the park administration will mobilize technology and talent resources from the two countries and build a new international industrial ecosystem that features businesses incubators, agricultural products and equipment manufacturing.
 
In addition, the park provides businesses with preferential policies. It offers companies settled in the park from 2020 to 2021 with production sites, offices and catering for one to three years rent-free.
 
For companies that set up businesses in the park from 2021 to 2023, and are capable of buying fixed assets in the first year of the business starting, the park said it will sell the property at cost price. It also offers employees of the businesses discounts in buying houses. The park also provides tailor-made buildings and a whole chain of services ranging from selling products, logistics and financial services to legal services.
 
Once construction is complete, the park will cooperate with its counterparts in Russia to interact in talents and resources, Ni said.
 
It will also help to complement the advantages of businesses in the two countries, promote bilateral industrial development and realize win-win cooperation, he added.