Deeper China-Russia relations a 'strategic choice' by both sides, Xi Jinping tells Russian Prime Minister Mishustin

Developing China-Russia relations is a mutual "strategic choice", Chinese President Xi Jinping has said, while vowing to deepen economic ties.

Meeting Russian Prime Minister Mikhail Mishustin in Beijing on Wednesday, Xi pledged that Beijing would continue to develop "high-level" political and economic relations with Moscow.

"Maintaining and developing China-Russia relations well is a strategic choice made by both sides based on the fundamental interests of the two peoples," Xi was quoted as saying by the Chinese foreign ministry.

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"Both sides should give full play to the advantages of political mutual trust, economic complementarity, interconnected facilities and people-to-people exchanges."

Xi also hailed the "strong resilience and broad prospects" for bilateral cooperation, while calling for deeper "cooperation in the fields of economy, trade, energy, connectivity and others" and for "jointly maintaining the security and stability of the industrial and supply chains".

This came as January-November bilateral trade hit US$218 billion, reaching the US$200 billion annual target set by Xi and his Russian counterpart Vladimir Putin a year ahead of time. The two sides had agreed in 2019 to increase trade to US$200 billion by 2024. The figure is expected to reach US$230 billion by the year-end as geopolitical uncertainties draw the "no-limits" partners closer.

Mishustin is in China for the annual meeting between the two countries' heads of government, which he co-chaired with Chinese Premier Li Qiang on Tuesday.

Echoing Xi's remarks during talks with him on Wednesday, Mishustin said trade and economic cooperation had "overcome difficult challenges" this year, as he highlighted the record high trade data, according to a Russian government transcript.

As many as 80 joint projects worth 20 trillion roubles (US$221 billion) had also been implemented this year, Mishustin said.

He also conveyed Putin's greetings to Xi, and said meetings between the two heads of state this year had further strengthened the bilateral "comprehensive partnership and strategic interaction".

During their talks in October, the two leaders agreed to boost economic cooperation while strengthening coordination through multilateral frameworks, including the recently expanded Brics group of emerging economies, increasingly seen as a platform for China and Russia to rival the Group of 7.

Russia's invasion of Ukraine last year has not affected its close ties with China despite intense scrutiny by the West, with Beijing saying it would not tolerate interference by any third party.

Mishustin's visit, his second this year after another trip in May, came as the European Union slapped a new round of sanctions on Moscow over the Ukraine war, and as Russia increasingly looks to China for economic and energy cooperation.

During his meeting with Li on Tuesday, the two sides agreed to expand economic and energy ties, with a number of cooperation documents signed.

Mishustin also noted that over 90 per cent of trade was now being conducted in either roubles or yuan, as Russia tries to reduce its dependence on the US dollar in the face of international sanctions.

Russia also hopes to increase energy supplies to China - one of its biggest buyers of oil and natural gas. It is planning the Power of Siberia 2 pipeline, the second pipeline it hopes to run to China, but negotiations have been slow as the two countries bargain over gas pricing.

In an interview with Russia's state-backed RIA Novosti, Chinese ambassador to Moscow Zhang Hanhui said the pipeline project was "extremely important" to energy cooperation and the two countries were "actively negotiating" technical and commercial issues.

This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2023 South China Morning Post Publishers Ltd. All rights reserved.

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