Mishustin and Li Qiang Discuss Strengthening Bilateral Ties During China Visit

Russian Prime Minister Mikhail Mishustin held a meeting with Chinese Premier Li Qiang on Monday in Hangzhou, China, as reported by Russian media.

Mishustin’s visit marks the beginning of a two-day trip to China, concluding with a meeting on Tuesday with Chinese President Xi Jinping.

During their discussions, they focused on enhancing trade and economic collaboration, as well as strengthening the energy partnership between Russia and China, among other matters.

Mishustin emphasized that China is the largest trading partner of the Russian Federation, noting that bilateral trade is now almost entirely conducted in their respective national currencies. He mentioned that the use of the dollar and euro in trade transactions has diminished to a point where it is «statistically negligible.»

However, the business newspaper Kommersant indicated that in 2025, trade between the two nations is projected to decrease for the first time since Russia’s large-scale invasion of Ukraine in 2022.

According to Kommersant’s figures, trade between China and Russia experienced a year-on-year decline of 9.4% in the first nine months of 2025, totaling $163.62 billion.

The decline is attributed to several factors, including the impact of sanctions, muted domestic demand in China, and the saturation of the Russian market with Chinese goods, as noted by Kommersant.

Additionally, the Interfax news agency reported that the two delegations signed eight agreements during the meeting. These agreements cover various areas, including humanitarian cooperation, collaboration between customs services, measures to prevent the illegal cross-border movement of nuclear materials, and a roadmap for Russian-Chinese cooperation in satellite navigation from 2026 to 2030, among others.