China-Russia energy cooperation contributes to global market stability, says Chinese vice premier

Amid the changing international landscape and frequent geopolitical conflicts, China and Russia have played an important role in promoting the stability of the global energy market by continuously expanding oil and gas cooperation, Chinese Vice Premier Ding Xuexiang said on Friday.

Ding made the remarks while addressing the opening ceremony of the 8th China-Russia Energy Business Forum in Vladivostok, Russia.

Ding, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, lauded the high-level development of bilateral energy cooperation.

He said guidance by the heads of state is the greatest advantage in the development of the China-Russia comprehensive energy partnership. He called on the two sides to continue following the guidance, deepen political mutual trust, strengthen strategic communication and steadily expand practical cooperation.

Noting that mutual benefit and win-win results serve as the fundamental impetus for energy cooperation between the two countries, he said both sides have developed a cooperation pattern that accommodates their respective interests, and cooperation in energy resources and technological innovation has effectively boosted economic development and improved people's lives in both countries.

Meeting challenges together is a prominent feature of energy cooperation between China and Russia, he said, adding that both countries should continue to make full use of various cooperative mechanisms and platforms, properly address risks and challenges, and ensure the stability and smooth flow of energy industrial and supply chains.

China and Russia should jointly practice true multilateralism and promote the building of a fair, just, balanced, inclusive, and open energy governance system.

Around 400 people, including government officials and oil and gas company representatives from China and Russia, attended the forum.