Development of foreign economic cooperation between Russia and China

China is an important strategic partner of Russia. Economic relations between Russia and China have a long history and have been developing significantly in recent years. In 2022, the Russian leadership was forced to quickly reorient the entire system of foreign economic relations towards friendly states. The success of this reorientation largely depended on China's position. Beijing's fundamental refusal to support anti-Russian sanctions made it possible to solve many economic problems and issues in Russia (receiving export revenues, importing necessary goods, etc.). The purpose of the study is to study the development of foreign economic cooperation between Russia and China. The main trends in the development of trade between the countries and China's investment activities in Russia for 2019-2023 were studied. It was concluded that China has dominated the structure of Russian imports and imports over the past few years. From 2021 to 2023, there has been a significant increase in trade turnover between Russia and China in the sphere of trade and economic interaction, which is due to many factors, including geopolitical, economic, military and ideological. However, there are also certain problems in foreign economic cooperation: Western sanctions make it difficult to develop cooperation, investment activity is developing less actively compared to trade, and the structure of imports and exports from China does not contribute to the process of import substitution in Russia. Prospective development of bilateral cooperation involves a set of measures aimed at minimizing the pressure of sanctions, developing a system of settlements in national currencies, eliminating trade barriers, developing related infrastructure, for the Russian Federation it is especially important to stimulate the import of Chinese technologies and investments in the manufacturing industry.