What did China and Russia discuss behind closed doors?
Editor's note: Mst. Masuda Khatun, an international affairs analyst and freelance columnist. She is a PhD candidate in International Affairs at the University of Dhaka, Bangladesh. The article expresses the personal opinion of the author and may not coincide with the view of News.Az.
At the invitation of Russian Prime Minister Mikhail Mishustin, Chinese Premier Li Qiang is visiting Russia, its "all-weather" comprehensive strategic partner, from August 20 to 22. This visit is part of the 29th regular meeting between the heads of government, which has been an essential mechanism since 1996 for evaluating and coordinating bilateral cooperation across various fields.The purpose of the meeting is to exchange in-depth views on issues of mutual concern and practical cooperation in bilateral relations, as well as to sign several intergovernmental agreements. China and Russia's ties are strengthening despite ongoing global turbulence, and both Beijing and Moscow are committed to their continued growth. Economic cooperation between China and Russia has expanded, deepened, and improved in quality and efficiency. Cross-border trade and connectivity projects, including the China-Eurasia-EU freight train service under the Belt and Road Initiative (BRI), have fostered stable industrial and supply chain systems, and there is greater investment in low-carbon, green, and energy-security sectors.
The scheduling of the 29th meeting indicates that China and Russia have maintained a good-neighborly relationship that has grown over the years. Additionally, these two major neighboring nations and members of the United Nations Security Council (UNSC) strive for regional stability, the interests of the Global South, and a more equitable world order.
Li's visit coincides with the ongoing intensification of high-level diplomatic relations, regular exchanges, and economic cooperation between China and Russia, along with China's justified and neutral stance and its growing positive role as a mediator in the Ukraine conflict. Premier Li's visit is seen as another tangible step in an increasingly solid relationship, following President Xi's historic state visit to Russia in 2023 and President Putin's visit to China in May 2024.
During the visit, China and Russia will have a critical opportunity to coordinate financial and trade matters in the face of Western sanctions, collaborate on larger projects, strengthen their already solid relationship, and expand their trade and economic ties while pursuing mutual benefits and common development goals. A comprehensive agenda covering a wide range of issues is anticipated during Premier Li's visit, which will further advance bilateral cooperation to a deeper and more comprehensive level. The meeting between the two leaders reflects the high-level agreement reached between Russian President Vladimir Putin and Chinese President Xi Jinping. The 29th regular meeting, which falls mid-year, provides a perfect opportunity to evaluate progress in the economic, cultural, military, and security spheres and to chart the future course of action for the next quarter, advancing ties with strategic charm and dynamic diplomatic exchanges, especially in light of President Putin's strategic state visit to China in May.
The visit will also enhance cultural, people-to-people, and sub-national exchanges, strengthen the China-Russia comprehensive strategic partnership of coordination for a new era, and boost bilateral cooperation in areas such as trade and economic cooperation in crude oil, natural gas, timber, copper, seafood, and potash fertilizers. Cooperation in industry, agriculture, connectivity, transportation infrastructure, logistics, real-sector trade, transborder business, energy, automotive, aviation, shipbuilding, and household appliance industries is also expanding. Trade in services, the digital economy, green development, and encouraging local governments and businesses to engage in more practical cooperation are all on the rise and will continue to grow in the near future. Bilateral cooperation in education, science and technology, culture, tourism, sports, and health is also expanding.
Trade and collaboration in green energy, high-quality labor forces, and new energy vehicles would be highly beneficial. The two nations have already collaborated on the Yamal LNG project and the Power of Siberia gas pipeline, as well as the integration of the BRI and the Eurasian Economic Union (EAEU). Russia aims to promote sustainable growth by expanding its industrial capabilities, opening up trade, encouraging economic diversification, and integrating into the global value chain. While Russia promotes the faster development of its Far Eastern regions, China continues to undergo significant reforms and modernization, creating new opportunities for practical cooperation between the two countries. Therefore, collaboration with China will remain a key foreign policy priority for the Kremlin.
The target of $200 billion in bilateral trade by 2024 was already surpassed in 2023, with trade reaching $240 billion. This visit will be crucial in identifying extensive areas of collaboration in line with the Pre-2030 Development Plan on Priorities in China-Russia Economic Cooperation , with a goal of reaching $300 billion in bilateral trade by 2030. On August 19, Russian Finance Minister Anton Siluanov expressed hope that trade volume between China and Russia will surpass the record set in the previous year in 2024 . According to the General Administration of Customs of China, trade between China and Russia from January to July amounted to $136.67 billion , up 1.6% from the previous year. Cooperation in the energy sector is particularly noteworthy, with the value of Russian pipeline gas supplies to China from January to July surpassing $4.69 billion , a 19% increase compared to the same period last year.As a result of mutually beneficial collaboration, trade between China and Russia has expanded rapidly. The two economies are highly complementary: Russia has significant advantages in natural and agricultural resources and connectivity, while China offers advanced technology, equipment, and substantial capital. Sanctions have not deterred Chinese businesses from investing in the Russian economy, including in the mining industry, innovative technology, pharmaceuticals, automotive, and environmental initiatives. High-quality cooperation between China’s northeastern rejuvenation and Russia’s Far East development will continue hand in hand.
The hegemonic economic restrictions imposed by the West have been rendered obsolete by the continuous expansion of bilateral trade and currency swaps. Today, national currencies like the yuan and ruble account for more than 90% of settlements between Chinese and Russian businesses. China remains Russia's most significant international ally. This mutually beneficial alliance serves as a stabilizing force as the world moves toward a multipolar system. A new paradigm of relations between China and Russia is being established at the level of major powers, aligned with the global trends of multipolarity, globalization, and trade liberalization.
Their cooperative efforts have already enhanced multilateral forums such as the United Nations, the Shanghai Cooperation Organization (SCO), and BRICS, amidst a tumultuous global landscape. These multifaceted collaborations represent ongoing progress toward establishing a comprehensive strategic cooperative relationship between China and Russia and are crucial steps toward deepening bilateral cooperation.
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