Russian-Chinese economic ties have great prospects, says Putin

This aerial photo taken on Aug. 11, 2023 shows the Heihe-Blagoveshchensk cross-border highway bridge as seen from the city of Heihe, northeast China's Heilongjiang Province. (Xinhua/Wang Song)

In the past five years, trade between China and Russia has doubled, Putin noted, saying that China has been Russia's largest trading partner for 13 consecutive years, and in 2023, Russia ranked the fourth among China's trading partners.

MOSCOW, May 15 (Xinhua) -- On the eve of his two-day state visit to China, which starts on Thursday, Russian President Vladimir Putin stated in a written interview with Xinhua that Russia and China are promoting the prosperity of both nations through expanded equal and mutually beneficial cooperation in economic and cultural fields.

Referring to the practical cooperation in trade and economic fields, Putin noted that the rapid development of Russia-China trade relations has been demonstrating strong immunity to external challenges and crises.

In the past five years, trade between the two countries has doubled, he noted, saying that China has been Russia's largest trading partner for 13 consecutive years, and in 2023, Russia ranked the fourth among China's trading partners. More than 90 percent of transactions between the companies from the two countries are settled in their national currencies, Putin added.

Putin noted the two sides are systematically and consistently developing strategic cooperation in the energy sector, working on new large-scale energy projects.

Supplies of Russian agricultural produce to the Chinese market are showing positive dynamics, initiatives in investment and production are being implemented, and transportation and logistics corridors between the two countries are operating smoothly and growing, he said.

"I believe that Russian-Chinese economic ties have great prospects," Putin said.

"We will try to establish closer cooperation in industry and high-tech, outer space and peaceful atom, artificial intelligence, renewable energy and other innovative sectors. We will keep working to provide favourable legal and organizational conditions for that and develop transport and financial infrastructure," he said.