A Russian tourist is seen at a morning market in Heihe City, northeast China's Heilongjiang Province, Oct. 14, 2023. (Xinhua)

Russian-Chinese trade had grown substantially over the past year, in which the trade turnover between the two countries hit a record high of 240.1 billion U.S. dollars. 

Chinese and Russian entrepreneurs are committed to advancing mutually beneficial cooperation for the benefit of both peoples, Vitaly Mankevich, president of the Russian-Asian Union of Industrialists and Entrepreneurs (RAUIE) told Xinhua in a recent interview.

"Despite all the difficulties, Russian and Chinese entrepreneurs are focused on promoting mutually beneficial cooperation, and relations between our countries have withstood external challenges," he said.

Mankevich noted that Russian-Chinese trade had grown substantially over the past year, in which the trade turnover between the two countries increased by 26.3 percent and hit a record high of 240.1 billion U.S. dollars.

Mankevich said that Russian authorities have been actively working to enhance trade and economic relations between the two countries, and have taken some important steps towards this goal, including measures that have helped entrepreneurs develop stronger and closer business ties.

He said that measures had also been taken to simplify the process of Chinese entrepreneurs entering the Russian market, and to facilitate the entry of Russian businesses into the Chinese market. Russian and Chinese industry associations as well as officials from both countries have helped organize, launch and develop the production activities of Chinese enterprises in Russia, added Mankevich.

People visit the China-Russia Featured Agricultural Products Fair 2023 in Vladivostok, Russia, Oct. 27, 2023. (Photo by Guo Feizhou/Xinhua)

According to the Mankevich, Russian and Chinese entrepreneurs are given market entry support as well as assistance with regard to the establishment and development of businesses.

Mankevich believes that the prospects for growth in Russian-Chinese trade are very promising, particularly in terms of structural changes in Russia's exports.

He added that China's decisions regarding the development of cross-border cooperation, foreign trade, investment activity, the implementation of the China-proposed Belt and Road Initiative and the country's scientific and technological progress are of great interest to Russia.

So are China's decisions regarding activities within free trade zones, greater openness to foreign entrepreneurs and investors, and financial structure optimization, he said.

Mankevich noted that Russia is particularly focused on improving cooperation with China, and are already implementing large projects in the automotive, infrastructure, agriculture and manufacturing industries.

"All this gives reason to believe that Russian-Chinese relations in the economics, trade, production and investment spheres will continue to rapidly develop for the benefit of our countries and peoples," he said.