Current Situation, Problems and Prospects of Russia-China Economic and Trade Cooperation: the Chinese Perspective

Abstract

In recent years, Russia-China economic and trade cooperation has enjoyed a good momentum of development. During the pandemic and complex international situation, Russia-China economic and trade cooperation is moving forward against the trend. Bilateral trade relations are becoming closer, the scale and fields of investment cooperation are expanding, energy, agricultural, scientific and technological cooperation is steadily advancing. This shows that the economic and trade cooperation between Russia and China has a solid foundation and broad space. However, there are still problems that cannot be ignored. The scale of bilateral trade is relatively small, the trade structure is not reasonable, and the depth of cooperation in the spheres mentioned above is insufficient. Russia-China economic and trade cooperation needs to develop in the direction of high quality and realize the unity of "increasing volume" and "improving quality". From the Chinese perspective, China's economic and social development strategy in a medium or long term will have a positive impact on bilateral economic and trade cooperation with Russia. It will help deepen the scientific and technological cooperation, accelerate the development of cross-border e-commerce, elevate investment cooperation to a higher level, further unleash the potential of energy cooperation, boost the agricultural cooperation, and upgrade Russia-China economic and trade cooperation as a whole.