06:32 GMT10 May 2021
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    BEIJING (Sputnik) - Trade between China and Russia might exceed $100 billion in 2018 due to the consistent recovery of the Russian economy and growing market demand, Chinese Commerce Ministry spokesman Gao Feng said at a briefing on Thursday.

    "The bilateral trade between Russia and China might surpass $100 billion in 2018, according to the data of the Chinese General Administration of Customs. In the first four months of this year, the trade between China and Russia totaled $31.2 billion, which is a nearly 30 percent increase, compared to the corresponding period in 2017… The consistent stabilization of the Russian economy and growth of market demand are among the main reasons for this," Gao said.

    READ MORE: Chinese Premier Believes Trade With Russia Can Reach $100Bln

    According to Gao, China's exports to Russia increased by 21.1 percent in January-April year-on-year.

    The spokesman also noted the expanded Chinese-Russian cooperation in the fields of investment, aerospace, construction, as well as in infrastructure projects.

    In 2017, trade between China and Russia grew by 20.8 percent in comparison with 2016 and amounted to $84 billion. China's exports to Russia rose by 14.8 percent to $42.9 billion, while the Chinese import from Russia went up by 27.7 percent and reached $41.2 billion.


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