China-Russia trade volume expected to hit a new high in 2021

Supported by the strong momentum and stable foreign trade growth, the volume of exports and imports between China and Russia is expected to hit a new high this year, said China's top commerce official.

In the next step, both countries should consolidate the momentum of trade growth, actively create new growth points in areas such as the digital economy, green trade and healthcare, expand two-way investments, and deepen industrial and supply chain cooperation, said China's Commerce Minister Wang Wentao.

This will promote Sino-Russian economic and trade cooperation and upgrade the content quality of bilateral trade in the next stage, he said during a video meeting with his Russian counterpart Maxim Reshetnikov, Russia's economic development minister on Tuesday.

Thanks to their complementary goods trade structure, China's foreign trade with Russia soared 29.5 percent year-on-year to $89 billion in the first eight months of this year, data released by the General Administration of Customs showed.