MOSCOW (Realist English). Russian President Vladimir Putin and Chinese President Xi Jinping made a joint press statement on May 8 following bilateral talks in the Kremlin, highlighting the deepening of their strategic partnership. Xi’s visit coincided with the 80th anniversary of the Soviet victory in the Great Patriotic War, and the two leaders stressed the symbolic and geopolitical importance of this commemoration.
President Putin declared that Russia-China ties had reached “an all-time high,” remaining resilient in the face of external pressure. The two sides emphasized plans to expand bilateral trade, boost energy cooperation, and increase transactions in national currencies. Joint ventures are underway in sectors such as nuclear energy, biotechnology, microelectronics, education, logistics, and space. In 2024, bilateral trade hit a record $245 billion.
Among the outcomes of the talks were the signing of a new intergovernmental investment protection agreement and a joint declaration outlining a “new era of partnership.” According to official sources, around 90 priority projects worth $200 billion are either underway or in preparation. Russia has supplied China with 31 billion cubic meters of natural gas, with plans to raise that volume by another 10 billion cubic meters via the Far Eastern route.
President Xi noted that this was his 11th visit to Russia as China’s leader and described the China-Russia friendship as a “pillar of a just global order.” He underscored the importance of resisting historical revisionism and maintaining a UN-centered international system, particularly in light of the UN’s 80th anniversary this year. Xi also pointed out that Russia remains the foreign country he has visited most frequently.
The leaders agreed to jointly mark the 80th anniversary of the end of World War II this September in Beijing and confirmed their participation in the upcoming Shanghai Cooperation Organization (SCO) summit in Tianjin. The alignment between the EAEU and the Belt and Road Initiative will also continue.
Key developments:
- The two countries formalized settlements in national currencies — the majority of trade is now conducted in rubles and yuan.
- The $245 billion trade volume is the highest for both Russia and China with any partner.
- Moscow and Beijing explicitly framed themselves as an alternative to Western-led global governance, favoring multilateralism, sovereignty, and institutional equality through the UN.
Russia and China are not only asserting an economic alliance but also a shared narrative of memory and global order. The Victory Parade, beyond ceremony, signals a geopolitical alignment. Yet the true test of this partnership will come in the years ahead — in energy markets, tech collaboration, currency risk, and regional competition across Asia.