Sino-Russian Trade and Economic Cooperation in the Context of China’s New Development Model: Current Status, Factors, and Development Trends

Against the backdrop of the once-in-a-century profound shifts in the global landscape, Sino-Russian trade and economic cooperation demonstrates remarkable resilience and growing dynamism. Following the outbreak of the Ukraine conflict in 2022 and subsequent unprecedented sanctions imposed by the US and EU affecting financial, energy, transport, and technological sectors, Russia’s foreign economic policy has rapidly pivoted eastward. Under these circumstances, China has become its key and most reliable trading partner. The current international conjuncture has opened a unique historical window of opportunity for qualitatively deepening trade relations between the two nations. This study employs a holistic approach: systematically re-viewing literature sources and analyzing statistical data from Russia’s Federal State Statistics Service (Rosstat) and China’s General Administration of Customs. Building upon this foundation, factors determining the qualitative deepening of Russian-Chinese trade and economic cooperation within the emerging geo-economic reality have been identified and prioritized. Research findings indicate that despite significant achievements in trade and energy, investment cooperation remains limited in depth. Collaborative efforts continue to be constrained by the Ukraine conflict, structural differences between the two economies, and underdeveloped infrastructure. The article proposes a comprehensive set of measures: implementing effective risk management strategies, establishing a new financial settlement mechanism, restructuring the commodity portfolio, and developing infra-structure. The objective is to establish a theoretical foundation for sustainable and balanced advancement of bilateral trade and economic cooperation.