BEIJING — Trade volume between China and Russia is expected to reach or even exceed $100 billion this year, according to the Ministry of Commerce (MOC).
“Bilateral trade is gaining steam,” said Liu Xuesong, a senior MOC official, at a press conference, citing the nearly 30-percent growth of China-Russia trade volume in the first quarter.
China has been Russia’s largest trading partner for eight consecutive years. Bilateral trade totaled over $84 billion last year, up 20.8 percent year-on-year.
China’s direct investment in Russia surged 72 percent to reach $2.22 billion in 2017.
“China will continue to expand mutual investment and cooperation on strategic major projects with Russia, and enhance the quality and level of bilateral economic cooperation,” Liu said.