BEIJING, November 1. /TASS/. Russian and Chinese authorities will make joint efforts to increase bilateral trade turnover, Russian First Deputy Prime Minister Denis Manturov said.

"Over the past four years, we made significant progress as the volume of bilateral trade more than doubled to [approximately] $245 bln. This year, there has been a slight decline in this figure, which is due to market conditions and negative external factors, and we need to make additional efforts to return to growth mode," he said at the 12th meeting of the intergovernmental Russian-Chinese commission on investment cooperation.

In this context, the signing of a revised intergovernmental agreement on the promotion and mutual protection of investments in May was a timely step, Manturov added. "This document was recently ratified by the Russian side and will enter into force in December," he said.

Trade turnover between Russia and China rose by 26.3% in 2023 to $240 bln. In 2024, it reached a record level of over $244 bln. In January-September 2025, trade turnover between the two countries fell by 9.4% year-on-year to $163.62 bln.