Russia-China trade: Promoting development in depth.

Russian-Chinese economic cooperation is shifting from mere expansion to a new phase of high-quality development, driven by institutional cooperation and innovative efforts.

Russian President Vladimir Putin's state visit to China in May 2026 will not only strengthen diplomatic foundations but also mark a shift in the focus of Russia-China cooperation and further enhance the comprehensive strategic partnership.

Commenting on this event, Ding Chao, a research fellow at the Institute of Russian, Eastern European and Central Asian Studies of the Chinese Academy of Social Sciences (CASS), stated: Russian-Chinese economic cooperation is shifting from mere expansion to a new stage of high-quality development, driven by institutional cooperation and innovative efforts.

Chinese President Xi Jinping stated that both sides should focus on their respective development goals and fully leverage the comprehensive and holistic nature of the China-Russia cooperation mechanism.

The highlight of the summit between the Russian and Chinese leaders was the discussion and signing of numerous documents aimed at bringing macroeconomic relations into a more substantive level.

One of the most notable outcomes was the agreement between the two sides to extend the Sino-Russian Treaty of Friendship and Cooperation, a document first signed in 2001 and considered the legal foundation for the strategic partnership between the two countries.

In addition to political and diplomatic cooperation, economic cooperation continues to be a highlight in bilateral relations.

According to President Vladimir Putin, Russia and China have built a stable bilateral trade system, protected from external influences and negative trends in the global market.

China has maintained its position as Russia's largest trading partner for 16 consecutive years, and this is clearly reflected in the latest customs figures.

After a period of rapid growth and reaching a record high of over $244 billion in 2024, total bilateral trade underwent a correction in 2025, decreasing by 6.9% to $228.1 billion due to fluctuations in global energy prices and a somewhat stagnant domestic consumer demand in Russia.

However, by the beginning of 2026, trade activity had seen a strong recovery.

According to data from China's General Administration of Customs, bilateral trade volume in the first four months of 2026 increased by 19.7% year-on-year, reaching $85.24 billion.

In April 2026 alone, this figure reached $23.7 billion, a 7% increase compared to the previous month. Notably, the growth was evenly distributed: exports from China to Russia increased by 23.1% (reaching $37.83 billion), while Russian exports to China increased by 17% (reaching $47.41 billion). Russia continued to maintain a stable trade surplus of $9.58 billion during this period.

Based on this, the Russia-China trade picture reveals a highly complementary structure. Expert Dinh Chao emphasizes that the core advantage lies in the high level of political trust, along with the will and capacity of both countries to maintain strategic independence and autonomy.

In terms of energy and resources, Russia continues to play a vital role as a supplier to China's industrial machine. Notably, the Power of Siberia 1 gas pipeline project has exceeded its designed capacity of 38 billion cubic meters per year by 2025, reaching 38.8 billion cubic meters.

Meanwhile, China's imports of liquefied natural gas (LNG) from Russia have reached approximately 10 million tons per year. Russia is working to secure new long-term energy agreements with China, including progress on the long-delayed Power of Siberia 2 gas pipeline.

This is a 2,600 km long gas pipeline project, capable of transporting 50 billion cubic meters of Russian natural gas annually to China via Mongolia.

To diversify its exports, Russia has also seen strong growth in agricultural products, ores, and aluminum. Particularly in the first quarter of 2026, Russian exports of gold and silver to China quadrupled, a strategic move aimed at facilitating payments and mitigating the impact of international financial volatility.

Conversely, China has rapidly reshaped the consumer and industrial markets in Russia. The structure of Chinese exports is shifting from basic consumer goods to high-value electromechanical equipment, industrial machinery, and automotive components.

In the first quarter of 2026 alone, the value of automobiles and components exported from China to Russia reached $3.7 billion. Simultaneously, cross-border e-commerce also boomed, with duty-free parcels reaching $1.8 billion during the same period. However, this cooperative structure is still operating with objective bottlenecks and limitations.

Pavel Kiparisov, President of the Russian-Chinese Trade Association (RCGC), argues that Russian-Chinese cooperation also faces another systemic human barrier.

According to Mr. Kiparisov, there is a serious shortage of high-quality human resources, especially experts with in-depth knowledge of language barriers and the legal systems of each country, making it difficult to implement in-depth cooperation projects.

Regarding the prospects for the next phase, observers believe that Russia-China economic relations will focus on upgrading quality rather than simply expanding scale.

The focus of cooperation is gradually shifting from purely resource trade to ensuring the integrity of industrial supply chains, expanding joint research in higher education, and promoting long-term capital investments.

In addition, the relaxation and expansion of visa exemption policies are creating a surge in tourism and informal trade in border areas.

To thoroughly address the "bottleneck" in human resources, the two countries also decided to launch the Russia-China Education Year, lasting from 2026 to 2027. This event is expected to deepen practical educational exchanges and provide a solid talent base to directly serve future bilateral cooperation projects.

Despite some remaining sticking points, strategic trust and the need for mutual complementarity between Russia and China remain strong.

The Russia-China trade axis is projected to remain stable, shaping one of the most important economic flows and having a profound impact on the global supply chain order in the coming period.

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(VNA/Vietnam+)

Source: https://www.vietnamplus.vn/thuong-mai-nga-trung-thuc-day-phat-trien-theo-chieu-sau-post1111791.vnp