Chinese President Xi Jinping emphasized expanding mutual investment with Russia and reaffirmed Beijing’s commitment to strengthening bilateral ties despite global instability, according to Chinese state media. Xi met Russian Prime Minister Mikhail Mishustin at Beijing’s Great Hall of the People, following a meeting a day earlier between Chinese Premier Li Qiang and Mishustin in Hangzhou, where Li underscored China’s intent to deepen cooperation with Russia and safeguard shared security interests.

Moscow has stressed the importance of Mishustin’s visit as Russia faces sweeping Western sanctions over its war in Ukraine and seeks to counter a recent slowdown in trade with China. Xi stated that China-Russia relations have continued to advance toward “higher-level and higher-quality development” despite external turbulence, describing their partnership as a “strategic choice” for both nations. He identified energy, agriculture, aerospace, the digital economy, and green development as key sectors for future collaboration and growth.

Mishustin, for his part, called for the creation of favorable conditions to encourage mutual investment and support joint ventures, as reported by Russia’s TASS news agency. Xi and Russian President Vladimir Putin signed a “no-limits” partnership in February 2022, shortly before Russia’s invasion of Ukraine. Since then, Russia has leaned on China to mitigate the impact of sanctions, boosting trade, settling more transactions in yuan, and expanding energy cooperation.

However, trade between the two countries has declined in recent months as Beijing faces increasing U.S. pressure over trade and technology. Last month, Reuters reported that Chinese state oil companies halted purchases of seaborne Russian crude following U.S. sanctions on Rosneft and Lukoil, Russia’s two largest oil firms.

In a joint statement released Tuesday on the Russian government’s website, both nations pledged to enhance cooperation across all sectors and respond jointly to external challenges. Russia also reiterated its support for China’s “one-China” policy and its opposition to “Taiwan independence.” China considers Taiwan a part of its territory, while the self-governed island rejects this claim, asserting that only its people can determine their own future.