Russia and China sign 20 strategic cooperation documents

Moscow — Russia and China signed 20 documents in the fields of economy, energy, transport and international cooperation after Russian President Vladimir Putin and Chinese President Xi Jinping held talks in Beijing on Wednesday, 20 May. The two leaders also adopted a joint statement on strengthening the partnership and deepening the Russia–China relationship, as well as a joint declaration on the formation of a multipolar world and a new model of international relations. The two countries have built a bilateral trade system that is stable and protected from external pressures and upheavals in the global market, Putin said at a press conference after his meeting with Xi. He explained that trade using rubles and yuan helps shield economic cooperation from ‘external pressure’ and ensures the continuity of the two countries’ commercial relations. ‘The coordinated steps taken by Russia and China to use their national currencies in bilateral transactions are very important. As a result, almost all Russia–China export-import transactions are now conducted in rubles and yuan,’ Putin said. He also said Russia is ready to continue supplying oil and gas to China without disruption. Putin added that Russia’s nuclear company Rosatom is nearing completion of a new unit at a Chinese NPP as part of the energy cooperation between the two countries. He also described the Russia–China partnership as a stabilising factor in international affairs. Putin also highlighted the positive outcomes of the bilateral visa-free regime that has increased tourism and people-to-people ties between the two countries. ‘By 2025, more than two million Russian citizens will arrive in the People’s Republic of China. More than one million Chinese citizens will visit Russia,’ he said.