China vows deeper trade, investment with Russia despite Western rebuke

10 months ago 85

BEIJING - China on Tuesday urged increased cross-border connectivity with Russia and deeper mutual trade and investment cooperation, as both allies vowed ever closer economic ties despite disapproval from the West after Russian forces invaded Ukraine last year.

The Russian minister of economic development held “in-depth” discussions on economic cooperation with the Chinese commerce minister in Beijing on Tuesday, coinciding with a trip by China’s top diplomat, Mr Wang Yi, to Moscow for strategic talks that led to the confirmation of Russian President Vladimir Putin’s visit to Beijing next month.

Chinese Commerce Minister Wang Wentao said in the Beijing discussions that Sino-Russian economic and trade cooperation had continued to deepen and become more “solid” under the “strategic guidance” of the two heads of state, according to a statement from his ministry.

With the war in Ukraine well in its second year and Russia under Western sanctions, Moscow has leaned on its ally Beijing for economic support, feeding on Chinese demand for oil and gas, as well as grain.

Beijing has rejected Western criticism of its growing partnership with Moscow in light of Russia’s war on Ukraine. It insists the ties do not flout international norms, and China has the prerogative to collaborate with whichever country it chooses.

On Tuesday, Group of Seven ministers reiterated their call, without naming any countries, on third parties to “cease any and all assistance to Russia’s war of aggression or face severe costs.”

The Russian Far East bordering China as well as North Korea has gained new strategic significance as a zone of cross-border trade and commerce.

Last week, Russia’s United Oil- and Gas-Chemical Company and China’s Xuan Yuan Industrial Development agreed to build a transshipment oil complex near a railway bridge linking the Russian town of Nizhneleninskoye to China’s Tongjiang as Moscow diversifies its exports of commodities a...

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