BEIJING, June 11. /TASS/. Almost all Russian-Chinese trade is conducted in rubles and yuan, with both sides building cooperation on a long-term and mutually beneficial basis, Russian Ambassador to China Igor Morgulov said at a Russia Day reception at the Russian Embassy, a TASS correspondent reported.

"Despite the challenging external environment, Russian-Chinese trade turnover has significantly exceeded the $200 billion target set by the leaders for three consecutive years. This year, its growth rate tops 20%. Moreover, almost all of our trade is settled in rubles and yuan," the diplomat said.

According to Morgulov, Russia and China oppose illegitimate restrictions and protectionism. He noted that the parties have formed a portfolio of roughly 80 major joint investment projects in industry, logistics, and mining.

The ambassador added that the strategic energy partnership encompasses supplies of oil, gas, coal, and peaceful nuclear energy. According to him, transport connectivity is strengthening, passenger and cargo traffic is growing, agricultural trade is expanding, and bright prospects lie ahead in space, artificial intelligence, and other high-tech industries.