Sino-Russian Trade Tipped to Hit $100 Billion in 2018

The Chinese government expects trade with Russia to breach at least USD$100 billion this year.

“Bilateral trade is gaining steam,” said Liu Xuesong, a senior official with the Ministry of Commerce, at a precent press conference.

“China will continue to expand mutual investment and cooperation on strategic major projects with Russia, and enhance the quality and level of bilateral economic cooperation.”

According to Liu Sino-Russian trade posted a near 30% increase in the first quarter of 2018, while bilateral trade was more than $84 billion last year, for a 20.8% year-on-year rise.

Direct investment by China in Russia leaped 72% to hit $2.22 billion in 2017, while China has been Russia’s biggest trading partner for the past eight consecutive years.

 

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