Russia and China are seeking to increase their bilateral trade turnover to $200 billion, form a turnover of $108 billion in 2018. Both countries plan to increase turnover through projects in various sectors, including agriculture, high technology, manufacturing, and energy.
Russia’s bilateral trade with China is primarily in the energy domain. Russia is China’s biggest crude oil supplier. Crude oil, gas, coal, and petroleum products contributed to about 74% of Russian export to China. China receives Russian oil and gas via Eastern Siberia-Pacific Ocean oil pipeline and Power of Siberia gas pipeline.
China also acquires nuclear equipment and atomic fuel as well as military weapons from Russia. A Russian company constructed four units of Tianwan Nuclear Power Station in 1998-2018. Russia will also provide the design of two units of the China Experimental Fast Reactor (CEFR) near Beijing and the Xudabao Nuclear Power Plant in Liaoning province.
China is also a big buyer of Russian military weapons as the EU, and the US put the country under an arms embargo since 1989.
On the other hand, Russia imports machinery and equipment from China. Machinery and equipment account for 57% of Russia’s total imports from Beijing.
