KAZAN, Russia, August 17 (HS/RIA Novosti) - Trade between Russia and China could reach a new historic high by the end of 2026, Chinese Ambassador to Russia Zhang Hanhui said on Monday.

In recent years, Chinese-Russian trade and economic cooperation has demonstrated steady growth … It is quite possible that a new historic high will be reached by the end of the year, the diplomat said at the opening of the Sprouts business forum in Russia's Kazan.

From January to July 2026, bilateral trade reached $159 billion, exceeding the figure for the same period last year by 26%, Zhang added.

The volume of bilateral investment between Russia and China remains at a stable level, he said. adding that large joint projects in the energy, chemical, aviation and space industries, as well as in communications, are also being consistently implemented.

Former Russian Ambassador to China Andrei Denisov, who is presently a senator, told RIA Novosti on the forum's sidelines that he believes trade between Russia and China will break the 2024 record of $245 billion by the end of the year and could exceed $250 billion.

Trade growth is driven by mutual interest. And now this interest is also fueled by external circumstances. For us, under the conditions of various restrictions on the global market imposed against us in defiance of all international trade regulations, we view China as a key partner not only in terms of numbers but also in terms of the quality of trade, he said when asked about the factors driving bilateral trade growth.

Earlier this month, the General Administration of Customs of China previously released data according to which trade between China and Russia in the first seven months of 2026 increased by 26.3% compared to the same period in 2025, amounting to $159.2 billion.

The 4th Sprouts international forum titled Sprouts: Russia and China — Mutually Beneficial Cooperation is taking place in Kazan from August 16–19. The main business program started on Monday. This year, organizers have prepared more than 50 business sessions, with over 200 Chinese companies expected to participate.

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Hindusthan Samachar / Indrani Sarkar