© Jason Lee / Reuters
A Chinese military officer adjusts a Russian flag ahead of a welcome ceremony hosted by Chinese President Xi Jinping for Russian President Vladimir Putin
Trade between Moscow and Beijing has grown 31 percent this year and is projected to reach the $100 billion target, said Russian President Vladimir Putin during a meeting with China's President Xi Jinping in Beijing.
Energy is the key sector of cooperation between the two countries, according to Putin. "Russia remains the largest supplier of fuel to the Chinese market. Last year, we supplied more than 50 million tons of oil. By April, this number increased by another 26 percent," said the Russian president.
Work on the construction of the Eastern Route pipeline from Russia to China is on schedule, and companies from both countries are participating at Russia's $27 billion LNG plant in Yamal, Putin added.
The countries are also building ties in the nuclear energy sector. "Russia and China have just signed an agreement on the construction of another two units and the Tianwan nuclear power plant in China by Rosatom. Russia will also build a brand-new nuclear power site in China," he said.
Putin emphasized the benefits for China of Russian know-how in a demo fast-neutron reactor to be built in the country. Fast neutron reactors can reduce the total radio toxicity of nuclear waste, and dramatically reduce the waste's lifetime. "
We don't have this type of cooperation with any other country. We are talking about sensitive and unique technologies developed by Russian scientists," Putin added.
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