Russia and China Sign Over 30 Economic Agreements on Infrastructure, Energy, Aerospace and Defense

In addition to the direct dialogue between the Russian and Chinese Presidents, their summit included talks in “expanded format” that involved dozens of cabinet ministers, their deputies, and businessmen on both sides, that featured the signing of over 30 economic agreements between the two countries.

President Putin told Chinese Premier Li Keqiang: “Our relationship really is one of comprehensive strategic partnership. Our ties are developing in many different areas and continue to make successful progress, opening up good prospects for the future…. The economy is at the foundation of our countries’ ties and we are doing much indeed to strengthen this foundation.” Putin added that this “is not always easy,” but that both sides are intent on “striking a balance of interests. However, we always build our relations on a consideration of each other’s interests, and we are successful in this.”

At a reception following the meetings, Putin remarked: “While building the Russian-Chinese partnership, we relied on traditions of centuries-old relations between our states. The unprecedented level of mutual respect and understanding we reached allowed us to solve complex and rather sensitive issues that we inherited from the past. Most important, it opened possibilities for moving forward for establishing multilateral ties in various spheres,” TASS reported.

Among the 30 economic agreements signed were:

• On financing of the 770-km Moscow-Kazan high-speed rail line, which will eventually be extended all the way to Beijing.
• The signing by Russian Railways and China Railway of a comprehensive strategic cooperation accord, including the localization of the manufacturing of rolling stock in Russia.
• On financing an LNG facility on the Yamal Peninsula in Russia’s Far North.
• On the building of a grain terminal in the southern Baikal region for increased shipment of Russian wheat to China.
• On the sale of Russian RD-180 rocket engines to China, as well as cooperation on the construction of wide-bodied aircraft and heavy civilian helicopters.
• An agreement between the central banks of China and Russia in the form of a memorandum of understanding on setting up a yuan clearing mechanism in Russia.