Russian PM Mikhail Mishustin signed a series of deals with China on Wednesday during his visit to Beijing, hailing bilateral ties as being at an all-time high, despite Western criticism of the two countries’ relationship as the war in Ukraine rages on.
Overview
China and Russia have strengthened their economic and diplomatic cooperation in recent years, becoming even closer since Russian President Vladimir Putin’s “special military operation” in Ukraine, despite Beijing’s assurance that it remains neutral regarding the crisis.
Mishustin arrived in China and attended a business summit in Shanghai before going to Beijing to meet Premier Li Qiang and Chinese President Xi Jinping. It is the highest-level Russian visit to China since the invasion began last February.
The visit comes at the heels of Russia and China slamming G7 announcements that singled out both countries on several issues, including Ukraine.
Russia is increasingly feeling the weight of Western sanctions as the war in Ukraine enters its second year. Accordingly, Moscow is increasingly relying on Beijing for support, sustaining itself on Chinese demand for oil and gas.
China and Russia have signed several deals to expand Beijing's cooperation with Moscow despite the West pressuring them against broadening ties. https://t.co/BDk1To02kq
— Press TV (@PressTV) May 24, 2023
After receiving an extravagant welcome on Wednesday outside Beijing’s Great Hall of the People, Mishustin told Li, “Today, relations between Russia and China are at an unprecedented high level.”
“They are characterised by mutual respect of each other’s interests, the desire to jointly respond to challenges, which is associated with increased turbulence in the international arena and the pattern of sensational pressure from the collective West.”
Similarly, Li hailed China and Russia’s “comprehensive strategic cooperative partnership in the new era,” and added, “I believe your trip to China this time will definitely leave a deep impression.”
Following the discussions, ministers from both nations signed several agreements on sports, service trade cooperation, patents, and the export of Russian millet to China.
Increasing Trade Ties
According to Chinese customs data, China is Russia’s largest trade partner, with trade between the two countries hitting a record US$190 billion last year.
Li stated on Wednesday that bilateral trade has already surpassed US$70 billion this year. “This is a year-on-year increase of more than 40%,” he added. “The scale of investment between the two countries is also continuously upgrading,” Li emphasised, adding that “strategic large-scale projects are steadily advancing.”
Beijing has rejected Western efforts to link its alliance with Moscow to the ongoings in the Ukraine War, claiming that the bilateral relationship does not violate international rules, China has the freedom to engage with whoever it wants, and their cooperation does not target any third country.
Li told Mishustin, “China is willing to work with Russia to implement the two countries’ joint cooperation, and promoting pragmatic cooperation in various fields can take it to a new level.”
#Russia's prime minister on Tuesday hailed economic ties with #China during a visit in which he will meet with President Xi Jinping and ink a series of trade deals.https://t.co/OjKgv3JS4J
— Economic Times (@EconomicTimes) May 23, 2023
In a speech at the China-Russia business forum on Tuesday in Shanghai, Mishustin said, “I believe that this year we will be able to achieve the goals set by the two countries’ leaders and bring the total trade to $200 billion.”
Data from Chinese customs reports that China’s exports to Russia increased by 153.1% in April after doubling in March.
According to news agency Interfax, Russia estimates its energy exports to China to increase by 40% this year, and the two nations are also discussing Russia obtaining Chinese technological equipment.
Additionally, the two nations intend to construct the Power-of-Siberia 2 pipeline to transport more Russian gas to China via Mongolia. The project still needs to be finalised. However, Putin stated in March that the three nations had concluded all agreements for the pipeline’s completion, and that Russia would provide at least 98 billion cubic metres of gas to China by 2030.
China, which has pronounced “no limits” to its partnership with Russia, has handed the Kremlin an economic lifeline, mitigating the impact of its exclusion from the global banking system.
Putin’s Visit to China
Kremlin spokesperson Dmitry Peskov stated that both sides are now coordinating the schedule of Putin’s visit to China. Xi previously stated that he had invited Putin to visit China later this year at a convenient time.
China will be hosting the third International Belt and Road Forum for International Cooperation (BRFIC) this year. The Russian President has attended the first two BRFIC meetings.
Russian Security Council Secretary Nikolay Patrushev expressed Moscow’s gratitude for Beijing’s invitation to Putin to address the BRFIC as the event’s honoured guest.