Following a commitment to a "new era" of strategic partnership with China's Xi Jinping, Russian President Vladimir Putin will emphasize the significance of trade in China's northeast, near the Russian border, on Friday.
Putin concludes his two-day visit to China with a stop in Harbin, Heilongjiang province. This area has a long history of trade and cultural connections with Russia. He will attend a Russian-China Expo and a forum focused on interregional cooperation.
Facing political isolation and Western sanctions due to Russia's ongoing invasion of Ukraine, Putin increasingly relies on China to support Russia's economy. During his state visit, Putin and Xi signed a joint statement on Thursday, celebrating a "new era" of cooperation against the U.S. on various security and economic issues, and reinforcing their shared global perspective.
"The China-Russia relationship today is hard-earned, and the two sides need to cherish and nurture it," Xi told Putin. "China is willing to... jointly achieve the development and rejuvenation of our respective countries and work together to uphold fairness and justice in the world."
The joint statement elaborates on the "no limits" partnership declared in February 2022, just before Putin launched his invasion of Ukraine, leading to the most lethal conflict in Europe since World War II. According to U.S. officials, Beijing is aiding Moscow’s war effort by providing drone and missile technology, satellite imagery, and machine tools. However, China denies supplying weaponry to any party.
Russia’s growing isolation has boosted its trade with China, which surged by 26.3% last year to a record $240.1 billion, according to Chinese customs data. Despite Western sanctions, Russia has surpassed Saudi Arabia as China’s top crude oil supplier, with shipments increasing by over 24%.
An editorial in China’s state-run Global Times on Friday highlighted the crucial role of trade in the China-Russia relationship, noting that China has been Russia’s largest trading partner for 13 consecutive years. "These achievements are not easy and have been achieved by both countries overcoming various external challenges and unfavorable factors, highlighting the solid foundation of the China-Russia relationship," the editorial stated.
Putin is accompanied by a substantial trade delegation, including Finance Minister Anton Siluanov and Central Bank Governor Elvira Nabiullina. The delegation also features the heads of Russia’s largest banks, Sberbank CEO German Gref and VTB chief Andrei Kostin, billionaire Oleg Deripaska, top oil producer Rosneft chief Igor Sechin, and liquefied natural gas giant Novatek’s boss, Leonid Mikhelson.
It remains unclear if Putin will make any further stops in Asia.
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