MOSCOW - Russia has given priority to the development of its Far East region, and it stands ready to boost cooperation with China in this regard, a senior Russian official has said.

The Russia government has been working on the creation of special conditions for investment in the Far East, such as simplifying administrative procedures and granting tax exemptions, Russia's Deputy Prime Minister Yury Trutnev said in a recent interview with Xinhua.

"We have introduced a 'one-stop' principle of administrative procedures. Investors could resolve all related issues at one federal agency without having to run from one department to another," said Trutnev, who is also Russia's presidential plenipotentiary envoy to the Far Eastern Federal District.

Russian President Vladimir Putin has signed the law on regions of priority development, while mechanisms to support investment projects have been established and the construction of infrastructure is underway, he said.

"A new investment space is taking shape," he added.

In order to attract investment, Trutnev said, Russia studied the experience of Asia-Pacific countries in taxation, administrative regulations, tariffs and infrastructure, and absorbed their essence.(Xinhua)