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China, Russia moving towards reaching $200 bln trade target, says envoy

China has remained Russia’s major trade partner for 12 years, Chinese Ambassador to Moscow Zhang Hanhui said

ST. PETERSBURG, June 16. /TASS/. Trade turnover between China and Russia increased by 28.9% in first five months of this year to $65.8 bln, Chinese Ambassador to Moscow Zhang Hanhui said at the St. Petersburg International Economic Forum (SPIEF), adding that the two countries are moving firmly towards reaching the targeted turnover level of $200 bln.

"Trade turnover [between China and Russia] hit $140 bln in 2021, which is an all-time high. And overall, China has remained Russia’s major trade partner for 12 years. Trade turnover between Russia and China gained 28.9% in first five months of this year to $65.8 bln. We are moving firmly towards reaching the $200 bln trade turnover goal set by our leaders," Zhang Hanhui said on Thursday.

The cooperation projects between the two states are characterized by "a very high degree of maturity," he noted. "We cooperate in such areas as electricity, nuclear energy, aircraft construction and more," the diplomat said. "Using the potential of the year of scientific and technological cooperation between Russia and China, we are involved in the development of 5G, transborder trade, digital economy, biomedicine, low-carbon green projects. We are creating mechanisms of intergovernmental cooperation in e-commerce, tourism and so on," he added.

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Trade & Cooperation SPIEF-2022

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