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Many failing state-owned endeavors will be shut down or merged into more efficient ones.
Russia’s trade turnover with China is almost thrice as big as that with the US.
The centre would help China become a "maritime power", China's top court said.
Wang and Lavrov also slammed US plans to deploy an advanced missile system in South Korea.
Food prices, which account for one-third of the CPI calculation, soared 7.3 per cent.
China and Russia, both permanent members of the UN Security Council, have coordinated policies on global crises including Syria.
Wang also praised "mature and stable" ties with its BRICS partner Russia.
Russia’s Far East Federal District, a region two-thirds the size of the US is a vast expanse of territory between Siberia and the Pacific Ocean.
The draft outline of the 13th Five-Year Plan (2016-2020) on national economy, social development was presented to parliament for review.
This is a much lower figure than had been expected after a nearly unbroken two-decade run of double-digit budget increases.