CLOSE COOPERATION: Chinese Premier Li Keqiang (right) laughs with his visiting Russian counterpart Dmitry Medvedev at a joint press conference in Beijing on October 22 (LIU JIANSHENG)

Both China and Russia are aware that mutual cooperation will allow both sides to realize their development goals. They are seeking to heat up relatively "cool" economic cooperation and create a bilateral comprehensive strategic cooperative partnership.

Perfect timing

Chinese Premier Li Keqiang and his Russian counterpart Dmitry Medvedev co-chaired the 18th annual meeting between the Chinese and Russian heads of government in Beijing on October 22. This is the first meeting between them since China's new government took office in March. The annual meeting has been an important platform for mapping out cooperation between the two countries since December 1996.

The timing could not be better. The two neighbors are both at a crucial phase in their development. Russia has been implementing an ambitious development strategy in their Far East and East Siberia areas, aiming to reach or approach developed countries' level of per-capita gross domestic product by 2020. China, meanwhile, is in a fresh stage of reform wherein it will actively change its development pattern. It is engaged in expanding domestic demands, while pushing forward West Development Strategy in its vast western region.

Chen Yurong, a researcher on European-Central Asian studies with the China Institute of International Studies, said the China-Russia relationship has entered a new phase during which pragmatic cooperation is carried out comprehensively.

"Upholding the principle of mutual trust and mutual benefit, the two sides are boosting cooperation in energy, transport, infrastructure and technology, with such cooperation creating momentum," Chen said.

During their meeting, Li and Medvedev released a joint communiqué and agreed on over 20 cooperative documents. "China and Russia are good neighbors and strategic partners, both in name and in essence," said President Xi Jinping as he met with the visiting Russian prime minister on October 22. In his first foreign trip since taking office, the Chinese president visited Russia in March. Xi and President Vladimir Putin drew a blueprint for the development of bilateral comprehensive strategic partnership of coordination. Xi and Putin made it clear that a major task for the two sides is to turn high-level political relations into fruitful results.

The task for the upcoming Li-Medvedev meeting is to carry out consensus reached during the Xi-Putin meeting, said Li Dong, Deputy Director of the Institute of Russian Studies, China Institutes of Contemporary International Relations (CICIR). According to the joint communiqué, the two sides will expand use of local currencies, facilitate trade and investment, and promote cooperation on aeronautics, astronautics, nuclear energy, hi-tech, agriculture and infrastructure construction. Moreover, agreements signed during Medvedev's visit included discussing detailed measures to realize goals in trade, expanding energy cooperation, deepening cultural exchanges, and facilitating personnel exchanges.

China and Russia have been coordinating on global issues from a position of mutual trust. "Sharing same or similar stances on major issues concerning the interests of the international community, China and Russia will continue strengthening coordination on foreign policies," said the communiqué. It stated that the two countries hold that international issues, including the Syrian crisis, the nuclear issue on the Korean Peninsula and the Iranian nuclear issue, should be resolved through peaceful means and political dialogue. In the joint communiqué, China and Russia also claimed the outcomes established by the UN Charter and international law should not be challenged, urging "the countries concerned" to be committed to an atmosphere of mutual trust, friendship and cooperation.