Record high growth rates are the most obvious matter in trade and business relations between Russia and China. The nations should be proud that bilateral trade soared 37.1 per cent to US$29.1 billion in 2005.

Chinese Vice Premier Wu Yi and the Russian Deputy Prime Minister Alexander Zhukov have met in Shanghai and agreed to increase Sino-Russian cooperation in various fields. The two sides held an in-depth exchange of views on bilateral relations. They both agreed that China and Russia would further expand cooperation next year in trade, investment, energy, aerospace and biological technology. In the first nine months of this year, bilateral trade volume between the two countries reached nearly 25 billion U.S dollars, that's an annual rise of nearly 20%. Wu Yi says, Sino-Russian trade volume for the entire year is expected to set a new record.

Russian-Chinese trade exceeded US$20 billion for the first time in 2004. The goal set by the heads of both countries in 2003 was achieved ahead of schedule. The new task is to bring trade turnover to US$60 billion-US$80 billion by 2010, and to secure US$12 billion of Chinese investment in the economy of the Russian Federation by 2020.