Recent calls between the Russian Federation and the People’s Republic of China have underscored a shared focus on advancing investment ties, with a robust lineup of joint projects illustrating the depth of cooperation. In a briefing in Beijing, Russian Prime Minister Mikhail Mishustin highlighted that 80 collaborative initiatives are already underway, collectively valued at roughly 20 trillion rubles, which translates to about 1.6 billion yuan. This figure reflects sustained momentum in bilateral economic engagement and signals a long-term strategic alignment between Moscow and Beijing as they pursue greater economic coordination in multiple sectors. The acknowledgment came during a discussion with Chinese President Xi Jinping, illustrating a high-level consensus on accelerating joint ventures and leveraging complementary strengths across their economies (RIA News).
Officials from both capitals have indicated a pivotal shift in the modus operandi of their financial engagements. Mishustin noted that Moscow and Beijing have effectively moved toward settlement in their own national currencies for mutual transactions. As a result, more than 90 percent of bilateral payments are now settled in rubles and yuan, marking a significant step in reducing dependence on third-party currencies and streamlining cross-border trade. The move toward currency localization is widely viewed as a signal of resilience in the current global financial environment and a practical measure to facilitate larger trade volumes with greater transparency and resilience (RIA News).
During the conversation, Xi Jinping reiterated a previously stated objective shared with Russia five years ago: to elevate annual trade between the two nations to 200 billion US dollars. According to Xi, this objective has not only been achieved but surpassed ahead of the originally envisioned timeline, reflecting a strong rebound in trade flows and the effective execution of bilateral trade initiatives. The conversation also touched on concrete measures to deepen collaboration across key industries, including energy, manufacturing, and technology, as both governments seek to create a more integrated regional supply chain that benefits consumers, workers, and businesses alike (RIA News).
Looking ahead, Mishustin confirmed plans to travel to China on December 18 to participate in the 28th ordinary meeting of the heads of government of the two countries. The forthcoming discussions are expected to focus on refining investment frameworks, expanding joint ventures, and exploring new avenues for strategic cooperation in fields such as infrastructure development, digital economy, and green technologies. The planned visit underscores a shared commitment to maintaining a steady pace of dialogue and a practical, results-driven approach to bilateral relations, even as broader geopolitical dynamics evolve. The parties appear determined to convert declared intentions into measurable outcomes and to sustain momentum in a partnership that has grown increasingly consequential for regional stability and growth (RIA News).
In context, analysts note that the collaboration between Russia and China extends beyond the immediate figures of project counts and currency settlements. The evolving partnership is shaping a broader ecosystem that includes industrial modernization, cross-border investment, and the transfer of know-how, all of which bolster domestic capabilities and improve competitiveness. Observers also emphasize that improved financial mechanisms, bilateral agreements, and coordinated policy signals are enabling companies to plan with greater confidence, invest more boldly, and participate in longer-term, high-impact projects that aim to diversify economic activity and reduce vulnerability to external shocks. The shift toward a more integrated economic framework suggests that the two countries are building a resilient, multi-sector alliance designed to support sustained growth and regional influence (RIA News).