President Xi Jinping’s recent visit to Moscow for the Victory Day parade to mark 70 years since the end of the Second World War illustrates the booming business ties between Russia and China.
Billions of dollars of deals promoting bilateral trade and investment were signed in sectors from financial services to electricity infrastructure to helicopter manufacturing. VTB — the only CIS bank with a licence to operate in China — inked agreements with China Development Bank,
These deals expanded upon previous announcements, including a $24.5 billion currency swap agreement between the countries’ central banks to help facilitate the continued growth of bilateral trade.
The dialog will continue at the June 18 to June 20 St. Petersburg International Economic Forum, which is expected to have a bigger Chinese presence than ever before, and then at July’s BRICS Summit in the Russian city of Ufa.
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