Putin Highlights ‘Fruitful’ Russia-China Economic Cooperation
President Vladimir Putin stated that the economic and trade relations between Russia and China are “reaping significant rewards” during his meeting with Chinese Premier Li Qiang in Moscow.
“Our trade relations are developing successfully. The attention that both governments pay to trade and economic relations is yielding fruitful results,” President Putin said during their meeting at the Kremlin today.
Putin further noted that Russia and China have established large-scale joint projects and plans in both economic and humanitarian fields “for many years to come.”
In May, President Putin visited Beijing and met with Chinese President Xi Jinping. During that visit, the Kremlin leader described the Russia-China partnership as a stabilizing force in a chaotic world.
Premier Li Qiang also expressed China’s readiness to strengthen comprehensive and substantive cooperation with Russia during today’s meeting. Li is currently on a four-day visit to Russia and Belarus.
When President Putin visited China in February 2022, just before Russia launched its campaign in Ukraine, Moscow and Beijing declared their bilateral relationship as “without limits.”
Trade between China and Russia reached a record high last year, surpassing the $240 billion target. Chinese customs data shows that bilateral trade in 2023 increased by approximately 25% compared to 2022.
As Western nations imposed harsh sanctions on Russia due to the conflict in Ukraine, Moscow has increasingly turned to China’s market, goods, and investments. Meanwhile, China has ramped up its imports of low-cost Russian energy, particularly through the Power of Siberia gas pipeline.
