Chinese Ambassador to Russia Zhang Hanhui announced that Beijing is seeking to expand annual bilateral trade with Moscow to 300 billion dollars.
In statements reported by Russian state news agency RIA Novosti, the ambassador stated that bilateral trade turnover has surpassed 200 billion dollars for three consecutive years. He highlighted that China has now maintained its position as Russia's primary trading partner for 16 consecutive years.
Sanctions Impact and Market Recovery
The ambitious trade target comes after commercial exchanges between the two nations experienced a brief contraction. In 2025, bilateral trade turnover fell by 6.9 percent, dropping from 244.8 billion dollars to 228.1 billion dollars following two preceding years of record high volume.
The decline in 2025 took place amid rising concerns over secondary sanctions threatened by authorities in the United States. Secondary sanctions are regulatory measures designed to deter foreign financial institutions and companies from facilitating transactions with sanctioned countries or entities.
Despite financial restrictions, trade between China and Russia returned to an upward path at the start of 2026. Commerce grew by 12 percent during January and February combined, before accelerating to 14.8 percent growth in the first quarter of the year.
Projections for Record Annual Turnover
The pace of commercial expansion has continued to gain momentum in recent months. According to the latest official metrics covering the period from January to July 2026, trade turnover between Russia and China jumped by 26.3 percent compared to the same timeframe in 2025.
Following this strong upward trend, economic experts forecast that bilateral trade will establish a new historical record by the end of 2026, surpassing 250 billion dollars.
China and Russia share a land border stretching across North Asia, with commercial ties anchored by energy supplies, industrial equipment, electronics, and consumer goods. RIA Novosti, which published the ambassador's remarks, is headquartered in Moscow and serves as one of Russia's main official news outlets.
