Chinese Vice Premier Wang Yang said Saturday that Russia's push to revamp its run-down Far East region coincided with Beijing's strategy, backing President Vladimir Putin's drive for new sources of growth.

At the Eastern Economic Forum in the Pacific Port of Vladivostok on Friday, Putin promised favorable business conditions and state support to Asian and domestic investors willing to come to Russia's most remote land.

"The Far East development strategy coincides with China's strategy of northeast rebirth," Wang said. "(The) Russia-Chinese partnership will definitely bring generous fruits."