Russia-china trade reaches $218bn in 2023
Beijing, China – Russia and China have fulfilled the task of increasing bilateral trade turnover to $200bn earlier than planned, Chinese President Xi Jinping said during talks with Russian Prime Minister Mikhail Mishustin in Beijing.
According to the Chinese leader, bilateral trade reached $218.28bn in late 2023.
Chinese President Xi Jinping met with Prime Minister of the Russian Federation Mikhail Mishustin in Beijing on Wednesday.
"The task of raising bilateral trade turnover to $200bn, which [the Russian] President and I have set five years ago, has been fulfilled earlier than planned," the Chinese leader said, adding that this reflects the positive dynamics of cooperation between the two states.
Xi noted that maintaining and developing China-russia relations is a strategic choice made by both sides based on the fundamental interests of the two peoples.
Moscow and Beijing should deepen their trade, economic and investment ties for reaching the trade turnover target of $300bn by 2030, Russian Economic Development Minister Maksim
Reshetnikov told reporters in Beijing.
"This year Russia’s trade turnover with China will exceed $200bn. This is a task that was set by our countries’ leaders back in 2019," he said. "A different figure has already been set by now as we are to reach $300bn by 2030," the minister added.
"This will surely require a serious complication of our trade, economic and investment ties, this is a big challenge," Reshetnikov stressed. Moscow and Beijing have almost fully abandoned the dollar in bilateral settlements, Russian Prime Minister Mikhail Mishustin said at the 28th regular meeting of heads of the two countries’ governments.
"Mutual trade has increased by almost one third year-to-date. Meanwhile the majority of payments, over 90%, are made in national currencies, which demonstrates almost full de-dollarisation of economic ties," he said.
Speaking about China's economy, Xi said, “The Chinese economy has strong resilience, great potential and wide room for maneuver, and its long-term sound fundamentals remain unchanged.”
China firmly promotes highquality development and highlevel opening up, which will provide new opportunities for the development of various countries including Russia, he added.
Xi called on the two sides to give full play to the advantages of political mutual trust, economic complementarity, infrastructure connectivity and people-to-people exchanges.
Mishustin said the two successful meetings between President Putin and President Xi this year have demonstrated the firm will of Russia and China to deepen their comprehensive strategic partnership of coordination, and that Russia is willing to work with China to earnestly implement the important consensus reached by the two heads of state.
Mishustin said Russia is satisfied with the steady growth of bi
Moscow and Beijing are deepening their trade, economic and investment ties for reaching the trade turnover target of $300bn by 2030
lateral practical cooperation and is willing to work with China to further tap potential, expand cooperation in fields such as economy, trade, energy and connectivity, make the Cultural Year a success, and consolidate the ever-lasting friendship between the two peoples.
Mishustin also conveyed the condolences of the Russian government and people to Xi on the earthquake that jolted northwest China's Gansu Province, saying that Russia is willing to provide rescue assistance according to China's needs.