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China-Russia trade to hit $80 bln by yearend

China-Russia trade will grow to $80 billion by the end of the year, Chinese Commerce Ministry spokesman Shen Danyang told TASS on the sidelines of the One Belt, One Road forum on Sunday.

"In the first four months of this year, the Russian-Chinese trade grew at a very fast pace and its turnover increased by 26% to almost $25 billion. Based on these figures, we can say that the volume of bilateral trade can reach $80 billion by the end of the year," the spokesman said.

Bilateral trade is growing in both directions, both exports and imports, he said.

"Russia's exports to China increased by 33% in January-April while the deliveries of Chinese goods to Russia expanded by 22% The deliveries of foodstuffs from Russia to China are growing at the quickest pace. Due to the fall of world prices, China has also started to build up the imports of energy products from Russia," the spokesman said.

"As for the Chinese exports, they have grown considerably due to online trade," Shen Danyang said.

Russia-China trade grew by 2.2% on an annual basis last year to $69.52 billion. Trade between Russia and China expanded by 26.2% in the first four months of this year to $24.73 billion.

[Source: Itar Tass, Moscow, 14May17]

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