Source: CCTV.com

03-27-2007 09:42

Special Report:   President Hu visits Russia

Chinese president Hu Jintao is visiting Russia, during which, he is expected to oversee the signing of billions of dollars in deals during his visit this week. In addition, the “Year of China” is also kicking off in Russia.

China and Russia have been benefiting from the rapid development of bilateral trade. Experts say the acceleration of China-Russia trade in recent years reflects the needs of the economic expansion of both countries.

In 2006, bilateral trade between the two neighbors has increased nearly 15 percent from 2005 to reach nearly 33 billion US dollars. The growth rate has kept increasing 29 percent each year from 1999. Now Russia ranks as the 8th biggest trading partner of China, while China is Russia's 4th biggest trade partner.

Statistics also show that, border trade between the two countries had reached 7 billion US dollars last year, accounting over 20 percent of the total bilateral trade.