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China, Russia interested in energy, agriculture cooperation — expert

It is reported that agriculture is a relatively new area of the Russian-Chinese cooperation, and it is of great significance for Russia’s plans of expanding its markets

BEIJING, May 24. /TASS/. China and Russia are interested in cooperation on energy and agriculture, China’s Global Times newspaper quoted a prominent Chinese expert as saying on Wednesday.

"As China's economy recovers there would be much demand for energy consumption. On the other it is an urgent task for Russia to expand the Chinese energy market, replacing parts of the European energy market," said Li Xin, the director of the Center for Russian and Central Asia Studies at the Shanghai Institutes for International Studies.

In his opinion, agriculture is a relatively new area of the Russian-Chinese cooperation, and it is of great significance for Russia’s plans of expanding its markets. At the same time, China wants to diversify its agricultural imports, the expert added.

"Russian soybeans, for example, are expected to replace some of the US exports to China," Li said.

In his opinion, bilateral local currency settlement will help to avert risks of the US dollar hegemony and promote the internationalization of the yuan.

Russian Prime Minister Mikhail Mishustin will continue his visit to the People’s Republic of China on Wednesday, meeting with premier of the State Council of China Li Qiang and Chinese President Xi Jinping in Beijing. On the first day of his visit, the premier was in Shanghai, where he took part in the Russian-Chinese business forum. In his opinion, Moscow and Beijing may reach the record turnover of $200 billion this year, with even more growth expected in the future. According to Mishustin, the present-day situation creates additional opportunities to expand the presence of Chinese companies on the Russian market and for launching production on the Chinese territory.

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