Mishustin: 70% of settlements between Russia and China are carried out in national currencies
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The share of cross-border settlements between the Russian Federation and China, which are carried out in national currencies, is 70%. This was announced by Russian Prime Minister Mikhail Mishustin during talks in Beijing with Premier of the State Council of the People’s Republic of China Li Qiang.
“I am sure that this year we will not only fulfill the task set by the heads of state to increase mutual trade to $200 billion ahead of schedule, but we will also exceed this milestone,” he said (quote according to TASS).
Mishustin also noted the countries’ strategic cooperation in the energy sector. According to him, Russia ranks first in terms of oil supplies to China. In addition, the export of natural year, coal and electricity is growing. The Russian prime minister added that the countries are expanding cooperation in the field of peaceful atom, and are also working to increase cargo transportation and develop further trade between the Russian Federation and China.
Among the new areas of deepening cooperation with Beijing are aircraft manufacturing, shipbuilding, mechanical engineering, machine tool building and joint space research, Mishustin said. He expressed confidence that with the help of the accumulated scientific base and production potential, the countries will be able to jointly achieve technological sovereignty.
On May 22, Mishustin arrived on his first official visit to China. During his working trip, he has already taken part in a meeting of the Russian-Chinese business forum in Shanghai, and also met with the president of the BRICS New Development Bank and representatives of Russian business circles.
On May 24, the Russian Prime Minister arrived in Beijing, where Russian-Chinese talks were held in an expanded format with the participation of Li Qiang, Premier of the State Council of the People’s Republic of China. Following the meeting, the parties signed five documents in the field of trade, medicine, sports and intellectual property. A meeting with Chinese President Xi Jinping was also announced.
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