China expects trade with Russia will exceed $80 billion this year

© Fotolia / Comugnero SilvanaРубль and the yuan. Archival photoChina expects trade with Russia will exceed $80 billion this year© Fotolia / Comugnero Silvana

China expects this year’s bilateral trade turnover with Russia will exceed $ 80 billion, said the Deputy Minister of Commerce of China Wang Showing.

«We expect that this year the trade turnover between Russia and China will exceed $ 80 billion,» said van Showing on spacefire on the occasion of the forthcoming visit of XI Jinping to Russia on July 3-4.

From January to may of this year the volume of bilateral trade between Russia and China grew by 26,1% — to 32.39 billion, while Chinese exports to Russia in five months increased by 22% compared to the same period last year, while imports from Russia — by 30%.

By the end of 2016, the trade turnover between Russia and China increased by 2.2%, reaching 69,525 billion dollars in Chinese exports to Russia grew by 7.3%, to 37,297 billion dollars, while imports from Russia fell by 3.1% — up to 32,228 billion dollars.

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