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Russia and China are working on over 80 priority projects worth $200 bln — ambassador

According to Igor Morgulov, systematic and coordinated efforts have been undertaken to transition mutual settlements to national currencies, while investment cooperation is actively developing

BEIJING, May 30. /TASS/. Russia and China are implementing or preparing to launch more than 80 priority joint projects with a total value of approximately $200 bln across a wide range of sectors, according to Russian Ambassador to China Igor Morgulov.

"For the past 15 years, China has been Russia’s largest trading partner, while our country ranks fifth among China’s foreign trade partners. In 2024, bilateral trade reached a new record, amounting to $245 bln. In recent years, systematic and coordinated efforts have been undertaken to transition mutual settlements to national currencies, investment cooperation is actively developing, and more than 80 priority Russian-Chinese projects worth around $200 bln are being implemented or prepared for launch in such sectors as industrial production, transport, logistics, agriculture, and mineral resource extraction," the diplomat noted.

The Russian Ambassador to China expressed hope that the further growth of reciprocal capital investments would be facilitated by the updated intergovernmental agreement on their promotion and mutual protection, signed in May.

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