Russian president Vladimir Putin and Chinese Leader Xi Jinping

On the occasion of China's National Day on Saturday, Russian upper house chairwoman Valentina Matviyenko said that Cooperation between Russia and China makes a significant contribution to global security and stability.

In a telegram message sent to Chairman of the Chinese Standing Committee Li Zhanshu, Matviyenko congratulated her Chinese counterparts on the 73rd anniversary of the official proclamation of the People's Republic of China.

"Over the 73 years of its modern history, China has made remarkable achievements in nation-building, boosting its economic potential, and improving the well-being of its citizens. The progress that your country demonstrates today is admirable and deserves the highest praise," the statement said.

Matviyenko said that the common views, interests, and values, which unite China and Russia elevated their diplomatic ties to new levels that are worthy of being exemplary for good cooperation.

"Faced with strong external pressure, our countries give each other strong political support, stand firm against all hostile attacks, and coordinate efforts to address pressing issues on regional and global agendas within the UN, BRICS, the Shanghai Cooperation Organisation, and other multilateral organizations and associations, which is an important factor in maintaining international stability and security," the statement said.

Matviyenko added that the law-making cooperation between the two countries has unleashed a wide array of trade, investment, and scientific and cultural potentials to the benefit of both the Russian and the Chinese people.

Matviyenko ended her note with good wishes for the Chinese Communist Party and a successful 20th Congress, with the hopes that its results will continue to enhance cooperation between Russia and China.

A growing friendship between Chinese President Xi Jinping and Russian President Vladimir Putin has helped put the two countries closer together. The ambitions to end what China and Russia regard as America's economic and geopolitical hegemony further strengthened the diplomatic ties.

In 2021, Russia-China trade grew 35.8 percent to a record $146.887 billion and according to China's General Administration of Customs trade between the two global powers in just the first eight months of 2022 increased by 31.4% to $117.205 billion. Even the share of national currencies in Russian-Chinese trade has increased significantly in recent years, per Russian Deputy Foreign Minister Igor Morgulov, who added that under the new conditions, the goal of increasing Russian-Chinese trade to $200 billion by 2024 is an achievable one.

Customs data showed that China's imports of oil from Russia rose 55% in May, despite Western sanctions on fuel imports from Moscow over the war in Ukraine. The world's second-biggest economy imported around 8.42 million tonnes of oil from Russia last month, surpassing its shipments from Saudi Arabia. Russia has long been a major provider of oil, gas, and coal, as well as food and other raw resources, to China's economy, which is now the world's second-largest and on track to become the largest.

Besides fuel, Special Representative of the Chinese Government on Eurasian Affairs, Li Hui, recommended in June that China and Russia expand on their existing cooperation areas and tackle the field of advanced technologies. "Russia and China should not only enhance the main areas of cooperation – economy, trade, energy, science and technology, aerospace, agriculture – but also expand into new spheres, such as 5G, AI, Big Data, biomedicine, green and low-carbon economy," he said, addressing the 7th International Conference Russia and China: Cooperation in a New Era.

On September 7, it was reported by Sputnik that the director of the Russian Foreign Ministry's First Asian Department, Georgy Zinovyev, disclosed that Russia and China are cooperating on investment projects worth approximately $160 billion, adding: "the portfolio of the specialized intergovernmental commission on investment cooperation includes 79 projects," and on September 21, the Russian Embassy in China Russian said that the trade of coal and natural gas exports to China reached a historical peak in the month of August.

Exports of Russian coal to China also reached 8.5 million tonnes in August, the highest in five years according to the mission, whereas in July the supply increased by 15%, with a 57% year-on-year growth rate.

It is worth noting that, as part of coordination between the two nations at all levels, China and Russia held their first joint exercises in the western Pacific Ocean between 17 and 23 October of last year after the two nations fortified their cordial ties a month prior.