Screenshot of Suifenhe local media's report

The launching ceremony for the construction of China-Russia auto parts export base was held on Monday in Suifenhe city, Northeast China's Heilongjiang Province, which will help increase export items to Russia and exploring new areas of bilateral cooperation, local media reported on Monday. 

Guangdong Masuma Information Technology Co invested 150 million yuan ($22.40 million) to set up the export base covering a space of 70,000 square meters. The annual output value of the export base is expected to reach 200 million yuan after the construction is complete, which will generate 12 million yuan in tax income for local government. 

Officials from Suifenhe suggested that, as the first export base for auto parts in the city, the project will serve the Belt & Road Initiative and propel China-Russia cooperation, and will also boost local auto parts manufacturing.

Global Times