On October 10, 2011, the 15th meeting of China-Russia Prime Ministers' Regular Meeting Committee was held in Beijing. Chinese Vice Premier and chairman of the Chinese side of the committee Wang Qishan and Russian Deputy Prime Minister and chairman of the Russian side Alexander Zhukov co-chaired the meeting.
Wang said that the bilateral cooperation has grown rapidly since the last meeting of the two prime ministers. China has become Russia's largest trade partner and the bilateral trade volume this year is expected to exceed US$ 70 billion. China-Russia oil pipeline has been formally put into operation and the bilateral cooperation in the energy fields of coal, natural gas and electricity moves forward steadily. The bilateral cooperation on major projects of aviation and aerospace is well underway. Civil aviation flight quota has grown significantly and cargo transportation has increased steadily. RMB and RUB are already tradable and the China-Russia currency settlement has expanded to general trade. The two sides coordinate closely on major regional and international economic issues. In general, China-Russia economic cooperation enjoys a strong momentum.
He noted that the current global economic situation is still grim. China and Russia, as major members of the G20 and BRIC countries, should continue to strengthen coordination and cooperation, strive to maintain stable and rapid economic development and jointly promote the strong, sustainable and balanced growth of global economy. The two economies are highly complementary, share wide interests and enjoy broad prospects of cooperation. The two sides should play their respective advantages and continue to expand the breadth and depth of cooperation. We are fully capable and confident to maintain the good momentum of China-Russia economic cooperation, optimize the trade structure, nurture cooperation highlights of energy resources, high-tech, infrastructure, finance and tourism and achieve the targets of bilateral trade of US$100 billion by 2015 and US$200 billion by 2020.
He pointed out that the meeting is very productive and makes good preparations for the meeting of the two prime ministers. China and Russia will continue to keep the rapid growth of bilateral trade and optimize the trade structure. They will expand mutual investment and explore the establishment of special economic zones in Russia. Settlement in local currency in the bilateral trade will be broadened. The cooperation plan on civil aviation will be well implemented and key spaceflight cooperation projects will continue to be promoted. Infrastructure construction of cross-border bridges will be accelerated and cross-nation land and maritime joint transport channels be built. China-Russia regional cooperation outline will be implemented and local cooperation be strengthened. The two countries will continue to step up coordination within the multilateral frameworks of the G20, BRIC countries and the Shanghai Cooperation Organization. They should give full play to the platform role of the Prime Ministers' Regular Meeting Committee and uphold the principle of mutual benefit to push forward the bilateral all-round strategic partnership.
Zhukov said that the two sides during today's meeting made detailed and sincere discussions on strengthening the bilateral customs cooperation, Russia's accession to the WTO and the long-range wide-body aircraft cooperation. Russia appreciates China's consistent support for its accession to the WTO. It is gratifying that the bilateral trade has grown stably and rapidly since the last meeting. The bilateral investment cooperation is being reinforced and the Outline of Regional Cooperation between Northeast China and the Russian Far East Area and Eastern Siberia has started implementation. The two sides are digging new cooperation highlights in the fields of technological innovation, energy, nuclear energy, space technology and environmental protection. Russia is willing to work with China to push forward the development of bilateral trade and economic cooperation.
On the same day, Wang held a small meeting with Zhukov and hosted a welcome banquet for him.