“Today, Russia-China relations have reached their highest level ever, and despite the difficult global situation [they] continue to get stronger,” Putin said in an interview with Xinhua News Agency, ahead of his state visit to China.
Putin said that the unprecedented level of strategic partnership between Moscow and Beijing contributed to his decision to choose China for his first state visit after his recent inauguration as President of the Russian Federation.
The head of state noted that trade and economic relations between Russia and China are progressing rapidly and remain robust and resistant in the face of external challenges.
"Trade and economic relations between our countries are developing at a fast pace, showing strong immunity to external challenges and crises. Over the past five years, we have doubled the Russia-China turnover: it reached US$227.8 billion last year, against US$111 billion in 2019," Putin said in an interview with China's Xinhua news agency.
Putin said more than 90% of settlements between Russian and Chinese companies are made in the countries' national currencies.
"So it would be more accurate to say that bilateral trade currently totals about 20 trillion rubles [about $219 billion], or nearly 1.6 trillion yuan. China has remained our key business partner for 13 years, and in 2023, Russia ranked 4th among the PRC's major trading partners," he noted.