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China, Russia move towards $200 bln trade turnover

According to the General Administration of Customs of China, trade between Russia and China in the first ten months of 2022 grew at an annual rate of 33%, reaching a record $153.9 bln

BEIJING, December 5. /TASS/. China and Russia are making steady progress towards reaching the goal of bringing bilateral trade to $200 bln, Premier of the Chinese State Council Li Keqiang said on Monday at the 27th regular meeting of Russian and Chinese heads of government held in a video conference format.

"Bilateral trade turnover is really growing steadily and has already reached the total figure for last year," he said.

"We are constantly moving towards the goal of reaching a trade turnover of $200 bln. This is especially true for agricultural products and energy resources," Li Keqiang emphasized.

China is Russia's leading trading partner. According to the General Administration of Customs of China, trade between Russia and China in the first ten months of 2022 grew at an annual rate of 33%, reaching a record $153.9 bln. This figure has already exceeded the record value for the whole of last year - In 2021, the volume of bilateral trade grew by 35.8%, amounting to $146.88 bln.

The current conditions create further potential for opening production facilities in Russia with the participation of Chinese companies, Russian Prime Minister Mikhail Mishustin said earlier on Monday. According to him, the investment cooperation between the two countries shows good dynamics, there is also progress in other key areas.

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