Russian President Vladimir Putin meets with Chinese Vice-President Li Yuanchao on Friday at the start of the 18th St. Petersburg International Economic Forum. PHOTO BY LIU HONGXIA / XINHUA

49 deals cement partnership

China and Russia sign 30 year gas deal

ST. PETERSBURG, Russia - Russian President Vladimir Putin said Saturday that his meeting with Chinese President Xi Jinping earlier this week in Shanghai marked that Russia-China relations have entered a new stage, and that the two countries will roll out all-around cooperation.

Putin made the comment in reply to a question on China-Russia ties raised by Zhou Shuchun, vice-president of the Xinhua News Agency, during his meeting with representatives of world leading news agencies at the 18th St. Petersburg International Economic Forum.

Putin also said that the consensus reached and agreements signed in Shanghai demonstrated a big step forward for the relations between Russia and China.

The gas deal inked on Wednesday in Shanghai was historic and significant to both countries, Putin said. For Russia, it is an important opportunity to enter the largest market in the Asia-Pacific, while more natural gas use in China will help the country improve its energy mix and ecological environment in its large cities, Putin said.

Putin expressed the hope that Russia and China will continue to strengthen cooperation in nuclear energy, aviation, outer space exploration, medical care and public health, finance, and agriculture.

The two countries have started local currency settlement in bilateral trade and will strengthen cooperation in this respect, Putin added.