China–Russia economic ties: A tale of depth and resilience

Economic ties between China and Russia are entering a more mature and resilient phase, defined not only by expanding trade volumes but also by steady improvements in structure and quality. This trajectory is highlighted at the 10th China–Russia Expo, which opened on Sunday in Harbin under the theme "Trust, cooperation, and mutual benefit." As the only comprehensive exhibition jointly hosted by both governments, it has evolved into a key institutional platform for advancing bilateral economic alignment.

The timing is notable. This year marks the 30th anniversary of the China-Russia strategic partnership of coordination and the 25th anniversary of the signing of the China-Russia Treaty of Good-Neighborliness and Friendly Cooperation — milestones that underscore the durability of the relationship.

Recent trade data reinforces that assessment. According to China's General Administration of Customs, the fundamentals of bilateral trade remain "solid and robust." In the first two months of 2026, trade reached $39.05 billion, up 12% year on year, with Chinese exports rising particularly rapidly. The growth is based on a strong foundation: Total trade hit $227.9 billion in 2025, the third consecutive year exceeding $200 billion, according to China's Ministry of Commerce. China has also retained its position as Russia's largest trading partner for 16 consecutive years.

Beyond scale, the composition of trade is shifting in meaningful ways. Traditional sectors such as energy, agriculture, and raw materials continue to provide stability. Meanwhile, higher-value segments — including mechanical and electrical goods, high-tech products, automobiles, and digital economy services — are steadily increasing their shares.

Bilateral trade is poised to move into a new phase centered on "improving quality and efficiency," according to Wang Qun, chairman of the Association of Entrepreneurs for China-Russia Cooperation. 

In a global environment marked by geopolitical and economic uncertainty, the relative stability of China–Russia trade stands out. The partnership is becoming less dependent on short-term fluctuations and more anchored in structural complementarity — suggesting a transition from rapid expansion to more sustainable and higher-quality growth.

(Cover via VCG)