Putin says trade turnover with China sets new record of $240B

By Elena Teslova

MOSCOW (AA) - The Russian-Chinese trade turnover has reached a new milestone, hitting $240 billion, Russian President Vladimir Putin said on Thursday.

Speaking at a news conference in Beijing following a meeting with Chinese President Xi Jinping, Putin said that while there may be slight discrepancies in the figures reported by Russia and China, the overall trade volume accurately reflects the strong economic ties between the two nations.

Russia and China have concrete plans to enhance cooperation in the energy sector, he added.

In response to Western sanctions, Russia aims to bolster collaboration with China in the automotive and household appliance industries, he said.

Both countries have also taken measures to safeguard their bilateral trade and investments from external constraints, with the finance sector being particularly shielded from any adverse effects, he noted, emphasizing the importance of closer collaboration between banks.

Regarding his visit to China, Putin underscored its significance, noting both its symbolic and practical implications. The agenda for the visit is extensive and reflects the depth of the relationship between Russia and China, he said.

Putin and Xi also signed a joint statement to deepen strategic partnership for "a new era" as the two nations mark the 75th anniversary of diplomatic ties.