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China, Russia to Boost Energy Cooperation
Published on: 2023-03-24
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Chinese President Xi Jinping and Russian President Vladimir Putin have agreed to cooperate on a range of economic and business areas, both countries said Wednesday.

Prominent on the list was increasing the use of “local” currency, Chinese state media said. The Kremlin was more explicit in stating that the yuan and ruble already account for two-thirds of trade deal payments between the two countries.

Other areas the agreement covered included: expanding bilateral trade, cooperating in energy and food security and developing rail and other cross-border logistics infrastructure.

China is already Russia’s largest trading partner. Official statements from both sides disclosed few details on numbers or timeline of implementation, while noting the plan focused on the years leading up to 2030.

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