OREANDA-NEWS  Moscow has gained a foothold in the top of China's foreign trade partners, rising to fourth place in the list for the first time, said Russian Deputy Prime Minister Alexei Overchuk, quoted by TASS.

The politician noted that the country has refocused on the markets of the Global South and East, recalling that trade with China, which increased by 23.1 percent in 2023, is growing faster than the heads of state planned. It was about a trade volume of $ 200 billion, while it reached "almost 228 billion, and according to Chinese statistics, this figure is $ 240 billion."

Overchuk also drew attention to the fact that more than 90 percent of bilateral settlements between Russia and China are conducted in national currencies. According to him, about 40 percent of Russian exports are now paid in rubles, and about 25 percent more are paid in yuan. He made these statements during a meeting with Chairman of the Standing Committee of the Chinese Parliament Zhao Leji.

Earlier, experts estimated Russia's share in trade with China, which amounted to 5.1 percent for Chinese imports and 3.3 percent for exports in the first nine months of last year. At the same time, the combined indicators of the European Union and the United States in trade with China reached 13.2 and 11.2 percent, respectively.