Among the talks between Russia, the world's biggest energy producer, and China, the largest consumer of energy, will be a natural gas deal which Moscow hopes to finalize after years of negotiation. Also on the table is a multi-billion dollar joint venture to build a long-haul aircraft, Russian media have said, and a state-run fund to invest in Russian and Chinese projects.
Russian trade with China has risen at least 40 percent year on year for the last two years and Russian officials say that a target to have $100 billion in bilateral trade by 2015 is likely to be reached ahead of time.
China's widening sphere of economic influence is already being felt on a local level in Russia, especially in areas close to the frontier, far from Moscow, where Chinese-made goods stock the shelves at local grocery stores and Russians make shopping trips to China for clothes and consumer goods. | Reuters