Vladimir Putin
Russian Finance Minister Anton Siluanov predicts that Russia-China commercial turnover will exceed last year’s record in 2024.
At a meeting in Moscow with Chinese Finance Minister Lan Fong, Siluanov stated, “Bilateral trade set a record last year. Based on the outcomes of the previous seven months, all indicators point to us exceeding that high milestone this year.”
According to the General Administration of Customs of China, Sino-Russian trade volume reached $136.67 billion in January-July, representing a 1.6 percent increase year on year.
Siluanov credited the sustained rise in foreign commerce to the two countries’ strong alliance, despite Western sanctions.
He highlighted that this relationship is a stabilizing factor in the global transition to a multipolar world order.
“Our cooperation has become one of the stabilizing factors as the polycentric world order takes shape,” replied Siluanov.
He also noted that more than 90% of transactions between Russia and China are now handled in their respective national currencies, the rouble and the yuan.
Furthermore, Siluanov revealed good economic data for Russia, such as 4.7 percent growth in the first half of the year, a historically low unemployment rate of 2.4 percent, a real wage increase of more than 10%, and an investment rate of more than 14 percent in Q1.
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