Putin and Xi Jinping deepen Russia-China comprehensive partnership

Russian President Vladimir Putin and Chinese President Xi Jinping held talks at the Great Hall of the People in Beijing, the Kremlin press service reported.

Following the restricted attendance talks, the two leaders adopted a joint statement on deepening the comprehensive partnership and strategic cooperation.

Welcoming Xi at the beginning of the talks, the Russian president said he was sincerely happy to be back in hospitable China among his friends six months later.

"I thank you for your congratulatory letter on the occasion of my reelection as Russian president and thank you very much for the invitation," Putin said.

"Moscow and Beijing have indeed developed a strong background in technical cooperation," the Russian leader said, adding that in 2023, the bilateral trade turnover increased almost by one-fourth, reaching $227 bln.

The Russian president stressed that China is Russia’s main partner in the sphere of trade and economy.

"By the end of last year, Russia was in the fourth place among China’s trade partners. This was directly influenced by the approval of a plan of development of key directions of Russian-Chinese economic cooperation until 2023 following your visit to Moscow in March 2023," Putin said.

The Russian leader named energy, industry and agriculture as priorities. He separately noted cooperation on hi-tech, innovations, infrastructure construction and transport.

"Humanitarian interaction is expanding. According to our agreement, we will hold cross-years of Russia and China’s culture in 2024-2025," Putin said.

He stressed that Russia-China ties are not opportunistic and are not directed against anyone.

"It is of fundamental importance that relations between Russia and China are not opportunistic and are not directed against anyone. Our cooperation in world affairs today serves as one of the main stabilizing factors in the international arena," Putin said.

According to the head of state, Russia and China together uphold the principles of justice and a democratic world order that reflects multipolar realities and a world order based on international law.

"Russia and China are successfully cooperating in the UN, BRICS, SCO and G20. We are determined to further harmonize integration processes in the Eurasian space, to combine the potential of the Eurasian Economic Community and your, my dear friend, Belt and Road Initiative," Putin said.

He expressed hope that his current visit would give an additional impetus to the development of the entire complex of bilateral cooperation.

According to the Russian leader, about 90% of all payments between Russia and China are made in rubles and yuan, and the joint decision to carry out settlements in national currencies was timely and stimulated the expansion of trade.

"Today, 90% of all payments are made in rubles and yuan. We have just talked in a narrow format about the areas in which we will further develop our relations, and all this is in the interests of both the Russian and Chinese economies. I am sure that all the planned activities will be carried out," Putin said.

He noted that Russia and China have formed a significant portfolio of 80 major joint investment projects in various fields.

"Over the past five years, despite the consequences of the pandemic and despite some actions aimed at curbing our development, actions by third countries, trade between Russia and China has been increasing, increasing at a good pace. A significant portfolio of 80 large joint investment projects in various fields has been formed," Putin said.