China Russia Photo: VCG

Further progress in practical cooperation between China and Russia is MKsportsexpected as a result of frequent and continuous high-level official exchanges and intensified cooperation among localities, Chinese analysts said on Sunday.

Chinese Vice Premier Ding Xuexiang is set to co-chair the 11th meeting of the China-Russia Investment Cooperation Committee and the 21st meeting of the China-Russia Energy Cooperation Committee, and attend the sixth China-Russia Energy Business Forum in Russia from Sunday to Tuesday, China's Foreign Ministry announced on Friday.

Cooperation on the local level is gaining a firmer foothold, with official and business delegations from Russia's Far East Region and China's Northeast region paying mutual visits to explore opportunities in economic and trade cooperation.

Ding's visit demonstrated that China and Russia are actively advancing bilateral cooperation, undeterred by external factors, and the two sides aim to improve the quality of their trade by improving the trade structure, Chinese experts noted.

Jiang Yi, deputy director of the Russian Studies at the Chinese Academy of Social Sciences, told the Global Times on Sunday that energy cooperation remains a crucial component of China-Russia economic relations and a key driver for increasing trade.

"In addition to the procurement of energy, the stable implementation of energy projects will be highlighted," Jiang said, noting that topics may include new pipeline construction and beefing up downstream petrochemical capacity.

Ding's visit highlighted the maturing cooperation mechanisms between China and Russia, and the regular talks play a vital role in maintaining stable mutual relations, Zhang Hong, an expert of Russian affairs, told the Global Times on Sunday. "The discussions will not only cover energy cooperation, but also potentially extend to agriculture," Zhang noted.

Zhang said that agricultural trade has been a high-growth area for Russian exports to China in recent years, especially after China opened its market to Russian beef and wheat, boosting agricultural cooperation and trade relations.

Agricultural cooperation has developed rapidly in recent months, with Chinese imports of frozen Russian pork and byproducts in June nearly quadrupled the figure in May.

However, China-Russia cooperation still faces challenges, Chinese analysts noted.

Ding's visit also aims to address difficulties in our cooperation, including difficulty in two-way investment, energy prices and pressure from external sanctions, Zhang said.

In the first half, bilateral trade reached $116.87 billion, up 1.8 percent year-on-year.

In 2023, bilateral trade hit a record of $240.11 billion with an annual increase of 26.3 percent.