China Economic Review
Charting China’s changing economic terrain · Since 1990
China, Russia sign US$3.5 billion deals
October 18, 2009
Trade deals worth $3.5 billion have been signed after the meeting between Chinese Premier Wen Jiabao and his Russian counterpart, Vladimir Putin, in Beijing. After the talks, the two sides signed 11 documents on cooperation in areas including gas, space-flight and railways. In a preliminary agreement between Russian gas giant Gazprom and China’s CNPC, Russia could potentially supply about 70 billion cubic meters of gas each year to China. It’s the biggest bilateral trade agreement ever signed between the two countries.
CCTV.com added that a major high-speed railway using China’s domestically developed technology could also greatly reduce travel time in Russia’s far eastern regions. Besides the premiers’ meeting, the two sides signed another cooperation agreement for over RMB4 billion.