Statistics from the past year reveal a trend: leaders of major Western powers are visiting China more frequently to discuss the future of humanity. Beijing is becoming the center of world politics. During this period, Xi Jinping met with German Chancellor Friedrich Merz (who wants to "strengthen comprehensive cooperation" with Beijing), British Prime Minister Keir Starmer (who seeks "long-term, enduring and comprehensive strategic partnership with China"), Spanish Prime Minister Pedro Sanchez (who noted that "China and Europe prospered together in the past, and there is no reason not to repeat that success"), and others. On May 14-15, Xi hosted US President Donald Trump, who tried to enlist China's help in solving both America's domestic and foreign problems.
Now, just four days after Trump left, Xi has hosted Russian President Vladimir Putin. The visit unfolded amid deepening strategic coordination between Moscow and Beijing and expanding cooperation in energy, trade and industry. In 2024-2025, annual trade turnover between Russia and China surpassed $230 billion, with a broader structure that now includes high-value-added goods. Almost all export-import transactions are settled in rubles and yuan.
Russia is a top exporter of oil, natural gas (including LNG) and coal to China. Rosatom operates Chinese nuclear plants at Tianwan and Xudapu. Russian oil imports to China topped 100 million tons in 2025, up 54 percent from 2021, worth $62 billion. Chinese customs data show Beijing got large discounts on Russian oil after Western sanctions, allowing China to "save" about $18.3 billion from April 2022 to February 2026.
Power of Siberia gas exports hit 38.8 billion cubic meters in 2025 — a record since the pipeline launch. China also imported 9.9 million tons of Russian LNG, four times the 2019 level.
In 2025, Russia supplied 29 percent of China's coal imports (211 million tons). Beijing cut purchases from other suppliers.
Beijing, for its part, is ramping up exports of industrial goods and technology to Russia despite anti-Russian sanctions. According to Bloomberg, 90 percent of sanctioned technology imports come from China. In 2024, China exported over one million passenger cars and about 70,000 trucks to Russia. Autostat data show that since 2023, the number of Western and Japanese brand cars made in China and shipped to Russia has more than doubled (about 130,000 units in 2025). Chinese companies have also expanded into smartphones, home appliances and electronics. Xiaomi, Haier and Midea have noticeably strengthened their foothold in the Russian market.
The weakest link in economic cooperation is investment. Russian central bank data show direct Chinese investment in Russia accounts for just 0.7 percent of all foreign investment. Direct Russian investment in China is 0.4 percent of foreign investment.
This was the backdrop for Putin's visit to China. The main political outcome: the Declaration on the Establishment of a Multipolar World and a New Type of International Relations. The document records Russia and China's shared vision of the future world, with their partnership as its load-bearing structure.
Vladimir Putin and Xi Jinping signed a joint Russia-China statement on further strengthening comprehensive partnership and strategic interaction, as well as deepening good-neighborly, friendly and cooperative relations. Xi confirmed Beijing's readiness to continue strategic interaction with Russia "back to back."
Following the May 19-20 talks, the Russian and Chinese leaders set new large-scale goals for their partnership. About 40 intergovernmental, interagency and corporate documents were signed to deepen economic cooperation. The two sides agreed to work on mutual recognition of Russian and Chinese environmental certificates for electricity production. They discussed strengthening partnership on critical elements and metals to expand green technologies. The Russia-China cross-years of education were launched, aimed at raising personnel training to a new level across a wide range of specialties.
According to RDIF chief Kirill Dmitriev, the visit yielded an agreement with China Architecture Design & Research Group on infrastructure and investment projects in Russia and China. A cooperation deal was signed with the China-SCO Demonstration Zone and the Russian-Chinese Commerce Guild to develop joint investment projects. An agreement was also reached with the Wenchang International Space City Administration and China Construction Eighth Engineering Division to support Russian-Chinese civilian space infrastructure cooperation.
LNG cooperation is likely to intensify. Until recently, Arctic LNG 2 tankers sat off China's coast for nearly a year, unaccepted. Only in 2025 did China allocate a separate terminal for the sanctioned product. Further steps are now expected, especially joint construction of Arctic-class gas carriers, whose shortage has held up Arctic LNG 2 shipments. This is also indicated by China resuming LNG imports from Yamal LNG after a four-month pause just before Putin's visit. Two tankers with Yamal LNG are now approaching Chinese ports, Bloomberg reports. This signals possible supply increases to the East as Europe cuts back purchases.
The list of signed documents does not mention Power of Siberia 2, though a decision on the pipeline was called a main summit topic. Supply prices, terms, and Chinese financing for construction remain unresolved. Sources say Beijing wants gas at domestic Russian prices with no volume commitments. No investment breakthroughs were achieved either.
Western press reports show the West is nervous about Putin's China visit. William Yang of the International Crisis Group said that "China reminds Trump that Beijing has other strong and reliable ties to count on." Berliner Zeitung wrote the following in turn: "If Trump's visit turned Europe into an outsider, Putin's visit made it a pawn. Trump disarmed Europe; Putin crushed it."
