Bilateral Russia-China Trade Rises

Bilateral trade between China and Russia is on track to reach US$80 billion by the end of 2017, according to Chinese Commerce Ministry spokesperson Shen Danyang. When asked whether there is a risk that China’s economy could grow at such a quick rate that it could negatively impact Russia, President Vladamir Putin noted that Russia is not a fearful country and that this is not China’s intention. Russian exports to China increased by 33% in the first five months of 2017, while Chinese exports to Russia rose by 22% during the period. Russian Prime Minister Dmitry Medvedev added that Moscow and Beijing will work together to try to boost bilateral trade over the coming years. Preferential trade agreements are being considered, which would facilitate trade flows.