In the talks and joint statements between President Vladimir Putin and President Xi Jinping May 16–17, principles of development were prominent. These brief excerpts from Putin’s remarks, at the leaders’ joint press conference May 16, are indicative of the full media statements by both Presidents:

Energy and Science

Energy cooperation between Russia and China extends beyond hydrocarbons to encompass the peaceful use of nuclear energy. Rosatom is building power units of Russian design at the Tianwan NPP and the Xudapu NPP in the People’s Republic of China. The commissioning of these units is poised to make a substantial contribution to China’s energy supply….

Furthermore, with Russia’s involvement, an experimental fast neutron facility has been built in China, and work is underway on the construction of a new demonstration fast reactor.

Development Corridors:

Russia and China are jointly developing international transport and logistics corridors, harnessing the potential of the Trans-Siberian and Baikal-Amur railways, as well as the Northern Sea Route. Year by year, the volume of incoming cargo and passenger traffic is on the rise. To improve their efficiency, we are collaboratively enhancing the capacity of border crossings and expanding border infrastructure.

Trade and Investment

Currently, there are over 80 priority projects valued at approximately $200 billion in progress or in preparation for implementation through the relevant intergovernmental commission.

The enhancement of trade and investment ties was greatly aided by the coordinated measures implemented to shift payments between our countries into national currencies. Currently, the ruble and yuan comprise over 90% of Russian-Chinese commercial transactions, with this proportion steadily increasing. This trend signifies that our mutual trade and investment are securely protected from the influence of third countries and adverse developments on global currency markets.

In light of this, we have agreed to further improve communication between credit and banking institutions of Russia and China, while actively employing national payment systems to support our economic operators.