Russia and China, two Eastern and Western giants, have drawn global attention with their deepening economic and trade cooperation in recent years. From significant investment achievements to steadily increasing bilateral trade volumes and growing use of national currencies in trade, these developments mark a new golden era in their economic relations.

According to Sputnik News, China-Russia trade exceeded $140 billion in the first eight months of 2023, putting the $200 billion target for 2024 within reach ahead of schedule. This growth reflects not only economic interdependence but also complementary trade synergies.

Beyond trade growth, China-Russia cooperation has yielded remarkable investment results across mining, infrastructure, agriculture, and other key sectors. Notably, their investment portfolio now includes 79 major projects totaling over $170 billion.

As cooperation deepens, trade structures are actively improving. Chinas exports to Russia have shifted from traditional Made in China to Created in China + Manufacturing, reflecting high-tech collaboration. For example, four of Russias top 10 car brands are Chinese, while Chinese smartphones hold 75% market share.

Russia offers significant opportunities for Chinese companies. Former Russian Ambassador to China Denisov notes current market conditions favor Chinese entrants, while Russian companies find China equally attractive.

Another notable trend is increasing use of national currencies in bilateral trade, reflecting monetary policy trust. According to Reshetnikov, local currency settlements reached 70% by 2022 and rose to 90% in H1 2023.

Against the backdrop of currency cooperation, the popularity of the Chinese yuan in Russia has been rapidly increasing. It is reported that the yuan has surpassed the US dollar to become the most traded foreign currency on the Moscow Exchange.