The first China-Russia Innovation Dialogue jointly sponsored by the Ministry of Science and Technology (MOST) of the People’s Republic of China and the Ministry of Economic Development (MED) of the Russian Federation was held at the Beijing Friendship Hotel from June 13 to 14, 2017. The event focused on strategic dialogues between the two countries in the areas of innovation strategy and planning, innovation policies and mechanisms, finance for R&D as well as entrepreneurship and the development of micro, small and medium-sized enterprises (MSMEs). It aimed to promote practical cooperation in innovation and entrepreneurship between tech MSMEs, science parks, incubators, and venture capital institutions, etc.
   
To strengthen project cooperation between innovative MSMEs of the two countries, complement each other with respective strengths and promote common development, the China-Russia MSMEs Dialogue and Partnering Event was held on the morning of June 13th. This was an important part of the Innovation Dialogue. Nearly 100 Chinese and Russian enterprises engaging in biomedicine, nanotechnology, new materials, AI, robots, UAVs and venture capital showcased their innovative products and technologies and concluded a number of cooperation agreements. On the afternoon of June 13th, business representatives from both sides visited the Zhongguancun High-tech Zone in Beijing to exchange views with leaders from tech companies, share experience in the building of high-tech parks, and continue talks on specific cooperation projects. 
       
To become partners of scientific and technological cooperation for joint innovation is one of the 5 components of the China-Russia comprehensive strategic partnership of coordination established by state leaders of both countries. It is also an important part of the Belt & Road Initiative and the Eurasian Economic Union. To adapt to the needs of innovation-driven development of both countries and deepen bilateral pragmatic cooperation, MOST and MED officially signed a memorandum of understanding on innovation cooperation in June 2016, marking the official start of the Innovation Dialogue mechanism.