China promotes investment, expands economic relations with Russia

Thanh Hà |

On November 4, General Secretary and President of China Xi Jinping said that he would expand bilateral investment with Russia and affirmed Beijing's commitment to promoting relations despite uncertain external conditions.

General Secretary and President of China Xi Jinping met with Russian Prime Minister Mikhail Mishustin at the Beijing People's Cultural Stadium on November 4. According to China's state broadcaster CCTV, General Secretary and President Xi Jinping stressed to Russian Prime Minister Mikhail Mishustin that: "China-Russia relations are still on the path of development at a higher and better level, with steady progress despite the volatile external environment."

The Chinese leader also emphasized: "Defending, consolidating and developing China-Russia relations is a strategic choice for both sides". He pointed out that sectors such as energy, agriculture, aerospace, digital economy and green development are areas where China and Russia can promote cooperation and foster new growth drivers.

According to Russian media, Prime Minister Mikhail Mishustin emphasized that the two sides need to continue to create favorable conditions to attract mutual investment and support joint projects.

The meeting took place a day after Chinese Premier Li Qiang met with Russian Premier Mikhail Mishustin in Hangzhou, Zhejiang Province, eastern China.

"China is ready to strengthen the integration of development strategies with Russia, expand cooperation in all fields and continuously develop comprehensive partnerships and strategic cooperation between China and Russia in the new era and together move forward on the path of modernization" - Prime Minister Li Qiang emphasized at the meeting with Russian counterparts.

After the meeting between the two Prime Ministers, CCTV said that the two sides agreed that the strategic direction of the leaders of the two countries would provide political guarantees for relations and cooperation between Russia and China. The two sides also proposed expanding cooperation mechanisms and increasing investment in bilateral cooperation.

The Kremlin stressed the importance of Prime Minister Mishustin's visit to China at a time when Russia is facing major Western sanctions over the conflict in Ukraine and is seeking to curb the recent decline in trade with China.

General Secretary and President of China Xi Jinping and Russian President Vladimir Putin signed an unlimited partnership in February 2022. Since then, Russia has shifted to China to mitigate the impact of sanctions, focusing on record trade, promoting yuan payments and enhancing energy cooperation.

In a joint statement published on the Russian government's website on November 4, Russia and China agreed to "strengthen cooperation in all fields and respond appropriately to external challenges". Russia also reaffirmed its compliance with the "One China" principle.

During the visit to China by Russian Prime Minister Mikhail Mishustin from November 3 to 4, the Russian Ministry of Transport said that Russia and China will train maritime experts in the Arctic, according to the memorandum of understanding signed in Hangzhou. This document reflects the shared commitment of Russia and China to develop partnerships in the field of commercial maritime transport as well as increase human resources for the operation of vessels along the Northern route (NSR).

According to Russian Transport Minister Andrey Nikitin, this memorandum of understanding aims to create conditions to enhance maritime safety in the Arctic's waters, protect the lives of sea users and preserve the marine environment in the frozen seas of the world's oceans.

Thanh Hà
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