"Russia cherishes its centuries-old ties with China," the prime minister said at an economic forum in Shanghai, according to a video released by the Russian Foreign Ministry.

"I am sure that this year we will reach the goal set by heads of state Vladimir Putin and Xi Jinping to increase our trade to $200 billion," he added, referring to a figure announced at a March summit in Moscow.

China is Russia's largest trading partner, and trade between the two countries reached a record high of $190 billion last year, according to Chinese customs data.

Beijing and Moscow have increased economic cooperation and diplomatic contacts in recent years, especially since the Russian invasion of Ukraine, with analysts saying China now has the upper hand in this relationship, given Russia's isolation on the international stage.

Arriving in Shanghai on Monday evening, Mishustin was due to attend a Russia-China business forum and visit a petrochemical research institute, according to the Kremlin.

The forum invited a number of Russian businessmen targeted by Western sanctions, particularly in the key sectors of steel, mining and fertilizers, according to Bloomberg.

"Deepening ties"

Deputy Prime Minister for Energy Alexander Novak was also present. "Energy supplies are expanding at large volumes and have increased significantly in 2022. And in 2023, there will be another increase, of about 40%," he said, quoted by Russian news agencies.

China last year became Russia's largest energy customer, allowing Moscow, under Western sanctions linked to the war in Ukraine, to avoid seeing its gas exports collapse.

Russian Deputy Prime Minister for Energy Alexander Novak in Vienna, October 5, 2022 © VLADIMIR SIMICEK / AFP/Archives

Mikhail Mishustin will travel to Beijing on Wednesday, where he will meet President Xi Jinping and Premier Li Qiang, according to Russia's state news agency Tass.

"Last year, Russia was subjected to sanctions on an unprecedented scale. (...) We have resisted and we continue our gradual development," he said Tuesday at the Shanghai forum.

"I am confident that deepening ties between Russia and China and intensifying their cooperation will have a positive effect on strengthening the economies of the two countries," he added.

"Normal cooperation"

Asked about potential Western criticism of the bilateral relationship, Chinese Foreign Ministry spokesman Mao Ning said it was "normal economic and trade cooperation ... on the basis of equality and mutual benefit."

"We have always opposed unilateral sanctions not authorized by the UN Security Council and extraterritorial jurisdiction," she said.

Russian Prime Minister Mikhail Mishustin visits the Petrochemical Research Institute, a subsidiary of Sinopec, on May 23, 2023 in Shanghai © Alexander ASTAFYEV/SPUTNIK/AFP

"Cooperation between China and Russia does not target any third party and does not allow any interference or coercion by any third party," she said.

Beijing says it is neutral in this conflict and has never publicly condemned the Russian invasion.

In February, the Chinese government issued a document calling for a "political settlement" of the conflict and respect for the territorial integrity of all countries – including Ukraine.

At a March summit in Moscow, President Xi invited his counterpart Vladimir Putin to come to Beijing.

© 2023 AFP