SHANGHAI, November 6. /TASS/. Explosive growth in trade between Russia and China to over $300 bln per year could follow the development of payment and transport infrastructure, Wang Wen, Dean of Chongyang Institute for Financial Studies at Renmin University of China, told TASS.
"Growth in trade turnover between China and Russia to 300 bln is absolutely possible," he said on the sidelines of the Hongqiao International Economic Forum. "The most significant obstacle to bilateral trade is the fact that we don't have a smooth trade infrastructure and certain conditions, for example, with payments; making payments is not very convenient right now," the professor said.
There is also a problem of a shortage of transport routes between the countries, he added. "If we had several railway lines, for example, a line going north from Xinjiang directly to Novosibirsk the transport problem could be solved. Therefore, I believe that $300 bln is far from the limit of Sino-Russian bilateral trade. In my opinion, this figure could reach $400 bln or even $500 bln. This is why reaching $300 bln by 2030 is not a problem," Wang Wen noted.
Russia could boost its imports of Chinese cars, electronics, and equipment while China, in turn, could increase its purchases of beef, pork, and soybeans from Russia, he said. "I believe that industrial and agricultural products are two largest sources of growth in bilateral trade," Wang Wen said, adding that the volume of trade in services may also rise significantly.
"The potential for growth in Chinese-Russian trade is enormous, $300 bln is far from the peak representing a new starting point for Sino-Russian trade in a new era," the professor noted. "This isn't a dream, but a real and explosive increase in trade between the two countries, which will occur as a result of deepening cooperation," he emphasized.
Trade turnover between Russia and China rose by 26.3% in 2023 to $240 bln, according to the General Administration of Customs of China. 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.