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Chinese Ambassador: Trade Btwn China, Russia Maintains Strong Upward Trend Amid Ongoing Cooperations

MOSCOW (Sputnik) - A strong upward trend continues in Russia-China trade, Chinese Ambassador to Russia Zhang Hanhui said in an interview with Sputnik.
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"Thanks to the joint efforts of both sides, bilateral trade has maintained a strong upward trend, and this is why it has reached another record high," Zhang said.
The ambassador said that in 2022, business cooperation between Russia and China has reached a new level.
"In the first 11 months of this year, the total volume of Sino-Russian trade reached $172.41 billion, up 32% year-on-year, already surpassing last year's annual figure of $146.87 billion and undoubtedly set to reach a new record high," he said.
The volume of Chinese exports to Russia amounted to $67.34 billion, an increase of 13.4 percent, and China's imports from Russia amounted to $105.07 billion, an increase of 47.5 percent, Zhang said.
He said that in 2022, China and Russia overcame a number of unfavorable factors in their trade and economic cooperation. In particular, in February, the parties signed a road map for the high-quality development of Sino-Russian trade in goods and services, which outlines the path to achieve the set goals in bilateral trade.
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The leaders of Russia and China earlier set the goal to double bilateral trade, bringing it from $100 billion a year to $200 billion by 2024. The $100 billion mark was reached in 2018.
After talks between the two countries' leaders in Beijing on February 4, Chinese President Xi Jinping outlined a new goal to increase Russia-China trade to $250 billion a year.
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