BEIJING, December 23. /TASS/. Bilateral trade between Russia and China is expected to reach slightly above $220 bln by the end of 2025, despite the market-driven adjustment currently affecting trade indicators, Russian Ambassador to China Igor Morgulov said while addressing faculty members and students of the Renmin University of China.

"At present, due to a number of market-related factors, a natural adjustment is underway and trade volumes have declined somewhat, but by the end of the year we will once again surpass, by a wide margin, the $200 bln threshold that was previously set by the leaders of our countries," he said, noting that, according to analysts’ estimates, bilateral trade will reach a level slightly above $220 bln by the end of 2025.

Morgulov emphasized that the development of economic cooperation is taking place under what he described as "unprecedented pressure" from the West, aimed at containing the development of both countries. According to him, Moscow and Beijing have managed to establish stable settlement mechanisms, which are now carried out almost entirely in rubles and yuan.

The Russian ambassador also noted that China has remained Russia’s leading foreign trade partner for 15 consecutive years, while Russia ranks fifth in China’s trade balance. Over the past three years, mutual trade turnover has increased by nearly $100 bln.