4Hu6wMx8sCN Author: Li Yonghui opinion.huanqiu.com article Li Yonghui: China Russia economic and trade cooperation empowers the development of the Far East /e3pmub6h5/e3pr9baf6 <article><section data type="rtext"><p>On May 15, on the eve of Russian President Putin's visit to China, the Russian satellite news agency announced that Chinese enterprises would cooperate with Russian direct investment funds to build the first liquefied petroleum gas (LNG) transfer complex in the region at the Soviet port in the Khabarovsk border region in the Far East of Russia, with an initial investment of 7 billion rubles, The total amount of the project is up to 30 billion rubles (about 2.396 billion yuan). This project is just one of a series of cooperation projects between China and Russia. With the development and implementation of these projects, China Russia economic and trade cooperation will be deeper and more practical</ p> <p>China Russia economic and trade relations have played an important role in bilateral and multilateral relations and the development of their respective economies. Under the leadership of the two heads of state, China Russia comprehensive strategic partnership of coordination has maintained long-term stability, political mutual trust has been deepening, and a multi-level and multi field institutional cooperation mechanism has been formed, which has played an important role in promoting practical cooperation between the two countries, and also ensured the normalization and institutionalization of exchanges and exchanges between the two countries. Among them, economic and trade cooperation is one of the three pillars of political diplomacy, economic diplomacy and cultural diplomacy of China Russia comprehensive strategic partnership of coordination, and also an important growth point for the development of bilateral relations. In 2023, the trade volume between China and Russia reached a record high of US $240.1 billion, ahead of schedule and exceeding the trade target set by the leaders of the two countries in 2019 to reach US $200 billion by 2024. The economic cooperation between China and Russia has been continuously improved and upgraded, and its development has continued to improve. The bilateral trade has maintained a rapid growth momentum. This has injected new impetus into deepening bilateral relations and respective economic development, reflecting the good economic complementarity of the two countries and the geographical advantages of economic and trade cooperation</ p> <p>On the basis of the current situation, China and Russia are still expanding their cooperation interface. They have extensive cooperation in traditional and emerging fields such as energy, aerospace, agriculture, service trade, cross-border e-commerce, scientific and technological innovation, infrastructure construction, etc., to tap the development potential, expand the breadth and depth of cooperation, and constantly improve the quality and level. At the bilateral level, data shows that in 2023, Russia will surpass Vietnam, Germany and Australia and become China's fourth largest trading partner; On the other hand, China has also become Russia's largest trading partner for 14 consecutive years. From January to April this year, the trade volume between China and Russia increased by 4.7% over the same period last year, reaching 76.581 billion US dollars. Russia mainly exports energy, minerals, agricultural and sideline products to China, of which oil, coal and petroleum products account for nearly 40% of bilateral trade. China's exports to Russia are mainly electromechanical products, communication equipment, light industrial products, etc. The two countries are highly complementary in technology, market, industrial chain and other fields. In terms of settlement currency, the settlement in local currency will account for more than 90% of bilateral trade between China and Russia in 2023, of which the ruble will account for 33%, the renminbi will account for 60%, and other currencies will only account for 7%. The bilateral economic and trade cooperation system will continue to develop in a safe and efficient direction. The increase in bilateral trade volume has also injected strong impetus into the economic and industrial development of both countries, and the future trade relations between the two countries are bound to be closer</ p> <adv-loader __attr__inner="7004636" __attr__style="width: auto; position: relative;float: left;border: 1px solid #ebebeb; padding: 20px;overflow: hidden;margin: 10px 30px 40px 0; "></adv-loader> <p>At the multilateral level, China and Russia play a key role in multilateral organizations such as the Shanghai Cooperation Organization and the BRICS countries. With the help of these international cooperation platforms, China and Russia have strengthened coordination and cooperation with other countries in areas such as infrastructure connectivity, trade and investment facilitation, financial union cooperation, and energy cooperation, so as to promote regional economic integration and common development. In addition, China and Russia have also actively promoted the strategic alignment between the Belt and Road Initiative and the Eurasian Economic Union, made progress in trade and infrastructure, and made important contributions to optimizing the flow of people and goods among member countries of multilateral organizations</ p> <p>During his visit to China, President Putin also went to Harbin to participate in the fourth China Russia Regional Cooperation Forum, which reflects the strategic direction of Russia's economic development at this stage. At present, Russia urgently needs to tap its economic potential in the Far East, develop strategic channels in the Far East, strengthen economic and trade cooperation with China and find new growth points. The continuous expansion of local cooperation between China and Russia is also of great strategic significance to China's revitalization of the Northeast, which will help give full play to the regional advantages of the Northeast, realize the portal role of high-level opening to the north and east, and make the Northeast deeply integrated into the "Belt and Road" construction</ p> <p>At present, China Russia Northeast Far East cooperation is making rapid progress, and various cooperation projects are on the right track, showing a trend of vigorous development. By the end of 2023, there are 49 Chinese investment projects in the Russian Far East, with a total investment of nearly 9 billion dollars. Cross border trade also has a strong momentum. From 2014 to 2023, the trade volume between the Russian Far East and Northeast China doubled in the decade, reaching 22 billion US dollars in 2022, and about 27 billion US dollars in 2023. More than 49 investment projects are being carried out with the participation of Chinese capital and the support of local preferential policies. In the first quarter of 2024, the cross-border railway transport of goods between China and Russia reached a new high of 42.5 million tons. Among them, Heilongjiang Province, which borders Khabarovsk Border Region and Amur Prefecture of Russia, has a large trade volume with Russia, increasing by 16.1% to 57 billion yuan, accounting for 70% of the trade volume of Northeast China with Russia. At present, Heilongjiang Province has a total of 19 Sino Russian border ports. The two sides are planning to promote the modernization of ports to adapt to the new trade development situation and constantly improve the cargo passing capacity and customs clearance efficiency of ports</ p> <p>This year marks the 75th anniversary of the establishment of diplomatic relations between China and Russia. The natural characteristics, economic structure and other factors of China and Russia have laid the foundation and development direction for bilateral cooperation to learn from each other and achieve mutual benefit. In the future, China Russia Northeast Far East cooperation will be organically combined with the pragmatic development strategies of the two countries to form complementary advantages, adjust and optimize the industrial layout with a targeted view, actively cooperate in transportation, international logistics, energy, minerals, power grid, science and technology, forestry and other fields, and continue to activate the endogenous driving force for the development of the two countries, The cooperation between the two sides will be further expanded through the establishment of an international advanced development zone and other measures. Of course, in regional cooperation, China and Russia should still pay attention to coordinating the contradictions in development, such as balancing the policy treatment of local and foreign-funded enterprises, improving business access and preferential support mechanism, improving transportation infrastructure, attracting talents from various industries, etc. However, thanks to the cooperation framework and mechanism proposed by the two countries' high-level leaders, the deepening economic and trade cooperation between China and Russia is bound to inject surging impetus into the development of the Northeast Far East region. (The author is a researcher of the Russian, Eastern European and Central Asian Institute of the Chinese Academy of Social Sciences)</p></section></article> one trillion and seven hundred and sixteen billion four hundred and thirteen million two hundred and twenty-four thousand two hundred and seventeen Copyrighted works of Globegroup are strictly prohibited from being reproduced or mirrored without written authorization. Violators will be investigated for legal responsibility. Editor in charge: Xiao Shan Global Times one trillion and seven hundred and sixteen billion four hundred and twenty million seven hundred and sixty-four thousand five hundred and fifty-eight one one []