President Vladimir Putin arrived in Beijing on the evening of May 19. This marks President Putin's 25th visit to China and the first in-person meeting between the two heads of state in 2026. The international spotlight once again focuses on Beijing, as the global community closely watches the pragmatic cooperation between these two major powers. Prior to his visit, Putin delivered a video address, stating that "bilateral trade between Russia and China has continued to grow, having long surpassed the $200 billion mark," and emphasizing that both sides are committed to advancing development across all fields.
In 2025, Sino-Russian trade reached $227.9 billion, maintaining a figure above $200 billion for three consecutive years. China has remained Russia’s largest trading partner for 16 consecutive years. In the first quarter of 2026, bilateral trade amounted to $61.2 billion, up 14.7% year-on-year—exports to Russia rose by 22%, while imports from Russia increased by 9%, marking a strong start. In the first four months of this year, bilateral trade had already reached $85.2 billion, up 19.7% year-on-year. Notably, the trade structure is continuously improving: the share of electromechanical products and high-tech goods is steadily rising, while Chinese strengths such as automobiles, home appliances, and machinery equipment continue to see robust exports to Russia. E-commerce and other new business models are also thriving, injecting fresh momentum into bilateral trade.
In energy, the Power of Siberia 1 pipeline—the eastern route of Sino-Russian natural gas cooperation—has delivered over 78 billion cubic meters of gas since its commissioning in 2019, as of November 2024. After achieving full capacity operation in 2025, it can deliver 38 billion cubic meters annually, sufficient to meet the gas needs of approximately 130 million households. In September of the same year, Gazprom and CNPC signed an agreement to increase the annual gas supply through the "Power of Siberia" pipeline to 44 billion cubic meters, and raise the annual delivery volume via the "Far East" line from 10 billion to 12 billion cubic meters. In oil, in April 2025, China and Russia signed the "Roadmap for Energy Cooperation 2025," aiming to boost crude oil trade between the two countries to 30 million tons, further solidifying China’s position as Russia’s largest crude oil export market.
The de-dollarization efforts in the financial sectors of China and Russia have yielded significant results, with the proportion of transactions settled in local currencies approaching 100%. For years, both countries have advanced the process of settling trade in their respective national currencies. At the 11th Russia-China Financial Dialogue held in November 2025, Russian Finance Minister Anton Siluanov announced that 99.1% of bilateral trade settlements were already conducted in rubles and renminbi. This figure represents an improvement from the previous "over 95%" benchmark, signaling that both countries have largely completed the transition toward currency localization in trade settlement. Shifting to domestic currency settlements not only helps bypass unfriendly Western financial infrastructure but also demonstrates a firm commitment by both nations to promote a more diversified international financial system.
The 2025 “China-Russia Cultural Year” concluded successfully, with hundreds of events held in areas including cultural relic exhibitions, film screenings, and stage performances, significantly advancing people-to-people exchanges. Following the Cultural Year, the “China-Russia Education Year” officially kicked off in January 2026—marking the tenth national-level cooperative project in the humanities field between the two countries, encompassing over 100 activities. Additionally, both nations announced pilot programs allowing visa-free entry for citizens of the other country, opening up seamless travel opportunities for their people.
2026 marks the 25th anniversary of the signing of the China-Russia Treaty of Good-Neighborliness, Friendship and Cooperation and the 30th anniversary of the establishment of the China-Russia strategic cooperative partnership—a pivotal historical juncture for bilateral relations. According to information released by the Kremlin, during President Putin’s visit, the two sides are expected to sign around 40 bilateral cooperation documents covering various fields such as economy and trade, energy, science and technology, and humanities. These agreements will inject strong new momentum into the continuous deepening of the comprehensive strategic cooperative partnership between China and Russia in the new era.
It is believed that President Putin’s successful visit will undoubtedly provide new, powerful impetus for the sustained high-quality development of China-Russia relations.
Original article: toutiao.com/article/1865635924282380/
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