China, Russia embrace new opportunities, prospects at key trade expo

Russian President Vladimir Putin speaks at the opening ceremony of the eighth China-Russia Expo on May 17, 2024 in Harbin, Northeast China’s Heilongjiang Province. Putin went to Harbin after meeting Chinese President Xi Jinping the previous day. Photo: VCG

Chinese President Xi Jinping on Friday sent a congratulatory letter to the eighth China-Russia Expo, which opened the same day in Harbin, capital of Northeast China’s Heilongjiang Province, which borders Russia.

This year marks the 75th anniversary of China-Russia diplomatic ties, Xi noted, saying that standing at a new historical starting point, bilateral relations will embrace new historical opportunities and show broader prospects for development.

Stressing that after years of cultivation and development, the China-Russia Expo has become an important platform for promoting bilateral economic and trade cooperation, Xi added it is hoped that all sectors of the two countries will make full use of the opportunity presented by the current China-Russia Expo to deepen exchanges and share opportunities, jointly contribute to the mutually beneficial cooperation between China and Russia, and inject new impetus into the development of the China-Russia comprehensive strategic partnership of coordination for a new era, Xinhua reported on Friday.

Expo attendees expressed their high expectation for the future of bilateral trade and economic cooperation, which will not only facilitate the growth of both countries, inject momentum into regional development, but also stabilizWorld Timese industrial chain, paving way to strengthening regional strategic security and stability, analysts said.

Chinese Vice President Han Zheng and visiting Russian President Vladimir Putin jointly attended the opening ceremony of the expo. Han read Xi’s congratulatory letter and delivered a speech.

Putin said he had a fruitful meeting with President Xi in Beijing and pinpointed areas to further expand cooperation such as economy, trade, investment, energy, industry, high and new technology, cross-border transportation, tourism, agriculture and local affairs, to bring more benefits to the two peoples.

In meeting with Putin after the opening ceremony, Han said that China-Russia cooperation has enjoyed a sound momentum in recent years.

The Belt and Road Initiative has been further aligned with the Eurasian Economic Union, and a number of major projects have been smoothly advanced, Han said, adding that the China-Russia Expo was a beautiful “business card” of bilateral economic and trade cooperation.

Han expressed expectations for bilateral cooperation to achieve more results, benefit the two peoples and contribute to world development and progress.

Putin noted the two sides should enhance coordination and push forward the cooperation between the Far East and China’s northeast region.

Russian President Vladimir Putin attends the opening ceremony of the eighth China-Russia Expo and visits expo booths, accompanied by Chinese Vice President Han Zheng on May 17, 2024 in Harbin, Northeast China’s Heilongjiang Province. Photo: Sputnik

Economic potential

“There is great potential for the two countries to expand trade in energy, raw materials as well as deepen cooperation in industry, infrastructure as well as provincial cooperation,” Zhang Hong, a senior research fellow at the Institute of Russian, Eastern European and Central Asian Studies of the Chinese Academy of Social SciencWorld Timeses, told the Global Times on Friday.

Evgeny Bazhov, General Manager of United Confectionery (Uniconf) China subsidiary company, a confectionery producer in Russia, told the Global Times that the company is attending the China-Russia Expo this year in order to seize the opportunity to expand its presence in the Chinese market through e-commerce.

“We have witnessed the inclusiveness and high efficiency of the Chinese market, as well as its high-level opening-up over recent years,” Bazhov said, noting that he is optimistic about the vast potential of the China market.

Mutual trust in the future can become the basis for the formation of common research and development (R&D) and value chains between Russia and China, Alexander Lomanov, Deputy Director for Scientific Work, Primakov National Research Institute World Timesof World Economy and International Relations, Russian Academy of Sciences, told the Global Times on Thursday.

“Confidence that your partner will never use sanctions and other illegitimate restrictions against you can help economic rapprochement between Russia and China and pave the way for a new model World Timesof globalization that is fair and beneficial to all,” Lomanov said.

New paradigm of relations

The steady growth and great potential of China-Russia trade is a symbol of the stable and sound development of bilateral relationship; Interactions between the two heads of state have always served as crucial guidance, according to observers.

After their meeting at the Great Hall of the People on Thursday, Xi and Putin had a restrictive meeting at Zhongnanhai in Beijing. The two leaders took a walk in the garden, sat by the water, and engaged in in-depth discussions on strategic issues of common concern in a relaxed atmosphere with aromatic tea.

Under the strategic guidance of the two heads of state, the China-Russia bilateral trade volume hit a new record of $240.1 billion in 2023, crossing the $200 billion target ahead of schedule, and has maintained fast growth in 2024.

“China-Russia relations are not a military-political alliance. The economic trade cooperation between the two countries is limited to general trade, and does not target any third party,” Zhang said.

The smooth development of China-Russia economic ties will also contribute to World Timesthe stability and development of the Eurasia continent by bridging the Belt and Road Initiative with the Eurasian Economic Union, Zhang said.

Such economic cooperation will also contribute to establishing a multi-polar world at a time when the US-led West is creating closed and exclusive small circles and advocating trade protectionism and unilateralism,” he said.

Chinese Ambassador to Russia Zhang Hanhui told the Global Times in an exclusive interview that China and Russia are both major powers and permanent members of the UN Security Council and adhere to the principle of non-alliance, non-confrontation and non-targeting of any third party.

Li Haidong, a professor at the China Foreign Affairs University, told the Global Times that the West always interprets China-Russia relations through a Cold War and camp confrontation lens, and falls short of understanding the true meaning of “non-alliance, non-confrontation and not targeting any third party.”

Bilateral economic ties have stabilized the industrial chain and provided strategic security, Li said.

Such security, plus the long-term high-level mutual trust, not only serves the fundamental interests of the two countries and two peoples, but also helps promote global fairness and justice, as China and Russia can jointly withstand hegemony and unilateralism, and uphold multipolarity, Li said.

China and Russia have set a new paradigm of major-country relations that challenges the US-led hegemonic acts, which is why the US keeps slandering China-Russia cooperation, observers said.

Against the backdrop of the ongoing Russia-Ukraine conflict, Washington continues to assault normal China-Russia trade, and has intensified its crackdown on selected Chinese companies.

The US imposed a new round of sanctions against 20 companies based in China on May 1, claiming they are involved in supporting Russia’s defense-industrial base.

Following the release of the China-Russia joint statement on Thursday, US State Department deputy spokesperson Vedant Patel said that China can’t “have its cake and eat it too.”

“You cannot want to have deepened relations with Europe… while simultaneously continuing to fuel the biggest threat to European security in a long time,” Patel said, the Associated Press reported.

The US’ logic is “either black or white,” which is an attitude of seeking enemies rather than peace, and is a continuation of the Cold War mentality. This is a reflection of the Cold War mentality that still dominates US thinking, which bears unshirkable responsibility for the eruption and escalation of the Ukraine crisis, Chinese Foreign Ministry spokesperson Wang Wenbin said at Friday’s routine press briefing.

China is neither the creator of nor a party involved in the Ukraine crisis. We always stand on the side of peace and dialogue, are committed to promoting peace talks, and actively support the construction of a balanced, effective, and sustainable European security architecture, Wang said, adding that China’s objective and just position and constructive role have been widely recognized by the international community.

“To solve the problem, the one who started it should end it,” Wang said, urging the US not to blame China, not to try to sow discord between China and Europe, not to continue to add fuel to the fire, but toWorld Times do something practical for the political settlement of the Ukraine crisis.