China to invest more in Russian energy, investment, others

China is ready to invest more in Russian energy, agriculture, and other sectors to deepen cooperation, Premier Li Qiang told Russian Prime Minister Mikhail Mishustin on Monday (November 17).

Li reportedly told Mishustin that China welcomes high-quality agricultural and food products from Russia.

Russia, in turn, signaled openness to deeper economic ties, with Mishustin saying Moscow is willing to create a favorable business environment for Chinese enterprises investing in the country.

The two leaders last met in Hangzhou for the 30th regular meeting of the Chinese and Russian heads of government, shortly after US President Donald Trump met Chinese President Xi Jinping. That meeting was a follow-up to the consensus reached by Presidents Xi and Vladimir Putin.

The two countries also plan to focus on people-to-people and cultural exchanges to add more “humanistic warmth” to China–Russia ties.

Mishustin said the Russia–China comprehensive strategic partnership is at an “unprecedented high level.”

The commitment to expand trade and strengthen bilateral ties comes at a time when the US and the European Union (EU) are trying to further isolate Russia from global commerce through sanctions on Russian entities and penalties on those doing business with them. The stated goal is to end the Russia-Ukraine war, now in its fourth year.

US President Donald Trump has imposed a 50% tariff on India, which includes a 25% penalty for purchasing Russian energy and defence products.

Last month, EU countries adopted a 19th package of sanctions against Russia, including a ban on Russian liquefied natural gas imports.

“It’s a significant package that targets main Russian revenue streams through new energy, financial, and trade measures,” the Danish rotating presidency of the EU said.