The key facts
- Russia-China trade turnover grew more than 30-fold over 25 years; the share of settlements in rubles and yuan is close to 100%
- The bilateral commission's portfolio includes more than 90 projects; agricultural trade grew by more than a third in the first nine months of 2026
- Mutual tourist flow grew by about 50% in the first half of 2026
Meeting in St. Petersburg
Russian Prime Minister Mikhail Mishustin, at a meeting with Premier of the State Council of China Li Qiang in St. Petersburg, stated that trade turnover between the two countries has grown more than 30-fold over the past 25 years, despite external pressure. The meeting took place on the eve of the 31st regular meeting of the heads of government of Russia and China; the previous one was held in early November 2025 in Hangzhou and Beijing.
Economy and energy
According to Mishustin, the share of settlements in national currencies — the ruble and the yuan — in bilateral trade is close to 100%, and mutual investments are growing. The bilateral commission's portfolio includes more than 90 projects in various industries, from metallurgy to agriculture. Mishustin called China a key economic partner, promised reliable supplies of energy resources, called peaceful nuclear projects a promising direction, and noted that Russia remains China's largest oil supplier, while the Power of Siberia gas pipeline is operating stably.
Agriculture and tourism
Bilateral agricultural trade in the first nine months of 2026 grew by more than a third compared with the same period last year. Products under the 'Made in Russia' brand, according to Mishustin, are gaining popularity in China. He proposed expanding the range of mutual trade, more actively modernizing border crossing points, and expanding the geography of air services. Mutual tourist flow in the first half of 2026 grew by about 50%.
Statements by Li Qiang
Li Qiang stated that Russian-Chinese relations, under the strategic guidance of Xi Jinping and Vladimir Putin, have entered a new stage of more substantive and accelerated development. He called the regular meeting an opportunity to comprehensively assess cooperation, resolve existing issues, and translate the leaders' agreements into practical results. According to him, despite changes in the international situation, the two countries' commitment to good-neighborliness and cooperation has not changed; he emphasized the principles of non-targeting third parties and called the relations a model of high mutual trust between major powers and neighbors.
