BEIJING, July 26 (UPI) -- Chinese Vice Premier Wang Qishan said Saturday his country has begun negotiations with Russia regarding energy resources.
Wang said following a meeting in Beijing with Russian Deputy Prime Minister Igor Sechin that the new talks had already proven productive, the Chinese state news agency Xinhua said.
"Today's first round of negotiation achieves positive fruits," Wang said.
The creation of an energy resources negotiation process has been approved by the leaders of both countries in an attempt to improve strategic and energy cooperation, Wang said.
The vice premier said an agreement on energy sharing efforts had also been reached by Chinese Premier Wen Jiabao and Russian Prime Minister Vladimir Putin.
The mechanism is intended to promote increased trade and relations between China and Russia in the areas of crude oil and gas, along with electric and nuclear power.