China’s Xi Jinping hails Russia cooperation as record trade beats $200 billion target
Chinese President Xi Jinping hailed closer East-West cooperation between China and Russia on Monday, as bilateral trade between the two countries exceeded its 2020 target of $200 billion.
Xi made the remarks during the 23rd China-Russia Heads of State Meeting in Moscow. The meeting was attended by Russian President Vladimir Putin and senior officials from both countries.
Xi said the two countries have made important progress in their “strategic partnership of coordination” and have deepened their all-round cooperation in such areas as trade, investment, energy, infrastructure, science and innovation.
He also noted that the two countries had jointly launched major projects this year and achieved positive results, citing the China-Russia cross-border gas pipeline, the China-Russia ice-breaking voyage for the Northern Sea Route, and the joint construction of a high-speed railway.
Xi pointed out that both sides should continue to promote economic and trade cooperation and strive to bring Chinese-Russian trade to $200 billion this year.
Data from the Ministry of Commerce shows that the bilateral trade between the China and Russia reached $208.7 billion in 2020, marking a 4.1 percent year-on-year increase. It has exceeded the target of $200 billion set this year.