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2026-05-22
In May, Russian President Vladimir Putin paid a state visit to China, during which the two countries reached a number of economic and trade agreements, propelling practical bilateral cooperation to a new level.
Currently, China-Russia economic and trade relations are robust, with trade volumes remaining at historically high levels. China has long been Russia’s largest trading partner. The structure of bilateral trade continues to improve, no longer limited to traditional energy trade. Trade in categories such as mechanical and electrical products, automobiles, agricultural products, and cross-border e-commerce continues to grow, and industrial cooperation is expanding in diverse directions.
During this visit, the two sides signed multiple cooperation agreements and finalized collaborative measures in areas such as cross-border logistics infrastructure, local currency settlement, high-end manufacturing, agricultural trade, and customs clearance facilitation. The proportion of trade settled in local currencies remains high, effectively mitigating external risks, while upgrades to cross-border transport corridors will further enhance the efficiency of goods circulation.
The two sides have jointly set a target to exceed $300 billion in bilateral trade by 2030. Moving forward, the two countries will continue to deepen collaboration on industrial and supply chains, broaden areas of cooperation, and, through a mutually beneficial partnership model, continue to drive regional economic development and contribute to the stability of global trade.