MOSCOW
Russian Prime Minister Mikhail Mishustin said on Wednesday that trade turnover between Russia and China has increased more than 30-fold over the past 25 years despite external pressure.
Speaking at a meeting in St. Petersburg with Chinese Premier Li Qiang ahead of the 31st regular meeting between the two countries’ heads of government, Mishustin added that bilateral trade was growing steadily, with nearly all transactions conducted in national currencies, the ruble and the yuan.
“Despite increased external pressure, Russia-China trade and economic cooperation has demonstrated strong momentum: over the past 25 years, our bilateral trade turnover has increased more than 30-fold,” he said.
More than 90 projects across various sectors, from metallurgy to agriculture, are currently in the portfolio of the relevant bilateral commission, Mishustin said.
“Today, the share of national currencies in bilateral trade is already close to 100%,” the Russian prime minister said, adding that bilateral investment was also increasing.
Mishustin called China a key economic partner, pledged continued reliable energy supplies, cited peaceful nuclear projects as a promising area, and noted that Russia remains China’s top oil supplier with Power of Siberia — the gas conduit stretching from Siberia to China — running steadily.
“Russia will continue to reliably ensure uninterrupted energy supplies. We are also ready to strengthen cooperation in the energy sector,” he said.
Bilateral agricultural trade grew by more than one-third in the first nine months of 2026 compared with the same period last year, Mishustin said.
Russian products marketed under the Made in Russia brand had demonstrated their quality and were gaining popularity in China, he added.
The two countries should expand the range of goods traded between them to meet consumer demand, the Russian prime minister said.
Mutual tourist flows between Russia and China increased by approximately 50% in the first half of 2026, Mishustin said. He also called for more active modernization of border crossing points and an expansion of the geographical reach of air transport links between the countries.
Li Qiang said Russian-Chinese relations entered a new stage of more substantive and accelerated development under the strategic leadership of Chinese President Xi Jinping and Russian President Vladimir Putin.
He described the regular meeting as an important opportunity to comprehensively review bilateral cooperation, address existing issues and translate agreements reached by the leaders into practical action and tangible results for their peoples.
Li said that despite changes in the international situation over recent decades, the two countries’ commitment to good-neighborly relations, friendship, cooperation and development had remained unchanged.
“Adhering to the principles of non-alignment, non-confrontation and not targeting third parties, we have upheld mutual respect and mutually beneficial cooperation,” he said, adding that Russia and China had established a model of high-level mutual trust and cooperation between major powers and neighboring countries.
The regular meeting between the Russian and Chinese heads of government is being held for the 31st time. The previous meeting took place in China in early November 2025, in Hangzhou and Beijing.
