BEIJING — Trade volume between China and Russia exceeded $100 billion by mid-December 2018, a record high, the Ministry of Commerce (MOC) announced on Jan 10.
Sino-Russia trade growth outpaced those between China and its other major trade partners, according to MOC spokesperson Gao Feng, calling 2018 a “genuinely fruitful year” for bilateral economic and trade cooperation.
China remains Russia’s largest trade partner, while Russia is China’s tenth largest trade partner.
Bilateral trade structure also improved in 2018. Trade in mechanical and electrical products, high-tech products and agricultural produce rose 15 percent, 29 percent and 31 percent respectively in the first 11 months of 2018.
The two countries also partnered on energy, nuclear, aerospace, cross-border infrastructure and other fields.
China is willing to work with Russia to lift bilateral economic and trade ties to a new phase on a larger scale with deeper dimension and higher levels, as 2019 marks the 70th anniversary of the establishment of diplomatic relations between the two countries, Gao said.