China's Xi seeks to boost investment, expand economic ties with Russia

Russia's Prime Minister Mikhail Mishustin and China's Premier Li Qiang.
Photo: TASS

Economic cooperation between Russia and China has been strengthening, despite global turbulence, Russian Prime Minister Mikhail Mishustin said at the 30th regular meeting of the Russian and Chinese heads of government, TASS reports.

"Despite turbulent global politics and world economy, cooperation between Russia and China has deepened. We have launched new large-scale projects, including in developing oil and gas fields, the production of high-tech equipment, cooperation in the energy field, peaceful nuclear energy, and space and Lunar exploration. We are implementing joint programs in aircraft-and car making, developing transport corridors, and we work in extreme Arctic conditions," he specified.

The Russian prime minister praised the 30 years of meetings between the two countries’ heads of government as a reliable and stable aspect of Russia-China comprehensive partnership and strategic cooperation. "As Russian President Vladimir Putin has stressed, Moscow and Beijing share a wide range of interests and hold a similar vision of fundamental issues," Mishustin said.

Russia's Prime Minister Mikhail Mishustin and CPC General Secretary/President of the People's Republic of China Xi Jinping.
Photo: TASS

Chinese President Xi Jinping met with Russian Prime Minister Mikhail Mishustin on Tuesday in Beijing, calling for enhanced cooperation on multiple fronts and better synergy of the two countries' development strategies, Xinhua reports.

Xi said that since the beginning of this year, China and Russia have steadfastly navigated a turbulent external environment with great composure, aiming for higher-level and higher-quality development goals. He added that maintaining, consolidating and advancing bilateral relations is a strategic choice for both sides.

Noting that new blueprints for bilateral ties were charted during his meetings with Russian President Vladimir Putin this year, Xi said the two countries should maintain close coordination, fully implement the important common understandings reached by the two leaders, and work to expand the pie of cooperation with an eye on the fundamental interests of the two countries and their peoples, so as to contribute more to world peace and development.

Xi urged efforts to steadily expand mutual investment and enhance cooperation in traditional fields such as energy, connectivity, agriculture and aerospace, tap into cooperation potential in new sectors such as artificial intelligence, digital economy and green development to foster new growth drivers for bilateral cooperation, and facilitate closer people-to-people exchanges.

He noted that the Recommendations of the Communist Party of China (CPC) Central Committee for Formulating the 15th Five-Year Plan for Economic and Social Development, adopted at the fourth plenary session of the 20th CPC Central Committee, have made top-level design and outlined the strategic blueprint for China's economic and social development in the next five years.

China will advance Chinese modernization in an all-round way, promote high-quality economic and social development with firm steps, and expand high-level opening up, Xi said, stressing that China is willing to work with Russia to better synergize its 15th Five-Year Plan with Russia's economic and social development strategies to continuously benefit the two peoples.

Mishustin conveyed President Putin's cordial greetings and best wishes for President Xi. He said the two meetings between the Russian and Chinese heads of state this year had strategically planned for the development of bilateral relations and consolidated the Russia-China comprehensive strategic partnership of coordination.

Russia stands ready to work with China to implement the important consensus reached by the two heads of state, deepen cooperation in fields such as economy and trade, sci-tech, energy, agriculture and digital economy, engage in closer people-to-people exchanges, and enhance multilateral coordination, he said.

Chinese President Xi Jinping meets with Russian Prime Minister Mikhail Mishustin at the Great Hall of the People in Beijing, capital of China, Nov. 4, 2025.
Photo: Xinhua

China and Russia pledged a joint response to unilateral sanctions during a visit by Russia's Prime Minister, as Chinese President Xi Jinping reaffirmed Beijing's commitment to advancing ties with Moscow despite "turbulent" external conditions, Reuters stresses.

"Both sides will make every necessary effort to carry out mutual assistance and cooperation in opposing unilateral coercive measures," Beijing and Moscow said in a joint communique released by China's foreign ministry on Tuesday after a meeting between Premier Li Qiang and his Russian counterpart Mikhail Mishustin the day earlier.

"Any unilateral coercive measures taken by any country or group of countries bypassing UN Security Council resolutions are illegal," it said, adding that such measures cannot be accepted or recognised.

China and Russia are both permanent members of the UN Security Council, with power to veto its resolutions.

Beijing has also consistently sought to consolidate ties with its northern neighbour despite a recently agreed-upon trade truce with the United States.

In the joint communique, China and Russia stressed the need to "prevent some country from abusing their monopoly and dominant position in specific sectors of the world economy," without naming the U.S. directly.

Premier Li Qiang held a regular meeting with Mishustin in Hangzhou, where Li said China wanted to strengthen cooperation with Russia and defend shared security interests.

The Kremlin has highlighted the significance of Mishustin's visit at a time when Russia is under major Western sanctions over its war in Ukraine.

"China-Russia relations have stayed the course toward higher-level and higher-quality development, advancing steadily despite a turbulent external environment," Xi told Mishustin, according to state broadcaster CCTV.

"Safeguarding, consolidating and developing China-Russia relations is a strategic choice for both sides," Xi said.

He highlighted industries such as energy, agriculture, aerospace, digital economy and green development where the two countries could advance cooperation and foster new engines of growth.

Mishustin said it was important for both sides to continue creating favourable conditions for attracting mutual investment and supporting joint projects.

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