The projects cover many fields, from industry, transportation, logistics, agriculture to mineral resource exploitation.
This information was shared by Russian Ambassador to China Igor Morgulov on May 30 in Beijing, within the framework of the 10th Russia-China Summit with the theme "Cooperation in the new era", according to TASS.
For the past 15 years, China has always been Russia's largest trading partner, Morgulov said. In 2024, bilateral trade turnover will reach a new record of 245 billion USD. Notably, the two countries have taken systematic and synchronous steps to convert trade transactions to using domestic currencies, promoting investment cooperation between the two economies.
The shift to rubles and yuan payments will not only help reduce dependence on the US dollar but also create a solid financial foundation for long-term projects between Russia and China, Ambassador Morgulov emphasized.
He also expressed his hope that the revised Intergovernmental Agreement on promoting and protecting bilateral investment, signed in May, will be an important driving force to promote investment flows between the two countries.
In addition to economic cooperation, Ambassador Igor Morgulov also emphasized the close connection between the two countries in protecting international order after World War II and the core principles of the United Nations Charter.
The people of Russia and China have sacrificed greatly to regain peace. Today, the two countries not only work together to protect the historical truth about the Great Victory, but also join hands to prevent efforts to disrupt the established international order, he said.
This year's Russia-China Cooperation Conference also marks the 80th anniversary of the Socialist Victory and the founding of the United Nations. This is an important opportunity for the two Asian and European powers to reaffirm their common vision of a multipolar, fair and sustainable world - where no country can unilaterally impose rules of the game.
For his part, Russian Deputy Foreign Minister Andrey Rudenko said at the conference that, in the context of increasingly fluctuating global geopolitics, strategic cooperation between Russia and China is playing a "stable pillar" in the region and the world. He emphasized that the focus of global activities is currently gradually shifting to the Asia- Europe region, especially Asia-Pacific.
As the European- Atlantic region is gradually losing its leading role in global development, the voices of the majority of countries in the world in politics, economics and security are becoming stronger, said Mr. Rudenko.
However, he warned that the global minority is still trying to stir up the situation by heating up political hotspots, triggering crises in the Asia- Europe space to hold on to the old world order. In that context, the Russia-China linkage plays a special role in maintaining international stability, according to Mr. Rudenko.
