China-Russia trade may top $100b this year

BEIJING - China-Russia trade is likely to exceed $100 billion this year, after an increase of nearly 30 percent in the first quarter, a spokesman with the Ministry of Commerce said Thursday.

"China-Russian relations are mature and stable, and will not be affected by the external environment," spokesman Gao Feng said at a press conference.

In recent years, bilateral economic and trade relations have entered the "fast lane," with rapid trade growth, accelerated investment cooperation and progress in cooperation on major strategic projects, Gao said.

Last year, trade between both countries rose 20.8 percent to $84.07 billion, and China stayed the largest trade partner of Russia for the eighth year.

"Next, China will continue to take strong measures to optimize the bilateral trade structure by expanding the trade of mechanical and electrical products and high-tech products," Gao said.

According to him, measures will also be taken in expanding market access for farm produce, developing cross-border commerce and promoting trade facilitation.

"We stand ready to work with Russia and make a success of both the fifth China-Russia Expo in July and the China International Import Expo in November," said Gao, adding efforts will be made to boost trade and set up sound platforms for cooperation at local and corporate levels.