People visit the exhibition hall of the 11th Eastern Economic Forum in Vladivostok, Russia, on September 1, 2026. Photo: Xinhua

Chinese Vice Premier Ding Xuexiang on Wednesday met with Russian President Vladimir Putin in Russia's far eastern city of Vladivostok, noting that China and Russia should continue to upgrade the level and scale of cooperation to better benefit the people of both nations, according to the Xinhua News Agency on Thursday.

The meeting came on the sidelines of the 11th Eastern Economic Forum, which opened Tuesday with over 5,000 representatives gathering here to discuss cooperation and investment to enhance ties between Russia's vast, resource-rich Far East region and the rest of the world.

Ding, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, said China is ready to work with Russia to implement the important consensus reached by the two heads of state, deepen the integration of their interests through concrete measures, strengthen cooperation in key areas such as investment and energy, and continuously consolidate the foundation for the higher-quality development of China-Russia relations.

For his part, Putin said this year marks the 25th anniversary of the signing of the China-Russia Treaty of Good-Neighborliness and Friendly Cooperation. Thanks to the joint efforts of the two countries, Russia-China relations have reached an unprecedented level, with positive progress made in cooperation across various fields, per Xinhua.

Russia stands ready to strengthen strategic coordination and cooperation with China to bring bilateral relations to an even higher level, he added.

A Chinese expert told the Global Times on Thursday that marking the 30th anniversary of the establishment of the China-Russia strategic partnership of coordination, the two countries have steadily deepened their ties, building a high level of mutual trust and setting an example of a new type of major-country relationship. 

This year's forum is another testament to the strength of China-Russia ties, said Wang Xiaoquan, an expert with the Institute of Russian, Eastern European and Central Asian Studies of the Chinese Academy of Social Sciences.

Ding said during the meeting that the Eastern Economic Forum, whose theme this year is "The Far East: Development for the Benefit of People", is an important platform for Asia-Pacific countries to build consensus on cooperation.

Noting that there is great potential for China and Russia to deepen cooperation in developing the Far East, Ding said the two sides should continue to make good use of cooperation mechanisms and relevant policy support, better align China's Northeast revitalization strategy with Russia's Far East development strategy, and upgrade the level and scale of cooperation to better benefit the people of both nations, per Xinhua.

With bilateral trade already at a significant level, the next question is how much added value is created together, Evgeny Bazhov, chief representative of Russian Export Center Joint Stock Company (REC) in China, told the Global Times on Thursday. For the Far East, this means deeper processing of Russian resources and agricultural products, broader joint production and industrial cooperation to closer integration into Chinese supply chains.

China maintained its position as Russia's largest trading partner for the 16th straight year with bilateral trade reaching $227.9 billion in 2025, surpassing the $200 billion mark for the third consecutive year, Xinhua said in a previous report.

Bazhov pointed out that Northeast China, including Heilongjiang, Jilin, and Liaoning provinces, is not only a nearby market for the Russian Far East but also a natural partner for building cross-border production and logistics chains, requiring a shift from individual transactions to systematic cooperation among regions, industrial parks, and companies.

This is where the Far East's potential lies: turning its geography into a competitive advantage, Bazhov said. Combining Russia's resources, technology, and production strengths with China's market, infrastructure, and industrial base can create a new model of regional economic development that benefits people on both sides of the border, the industry insider explained.

Russia and China share a long border, particularly between Northeast China and Russia's Far East, Wang also noted. Institutionalized regional cooperation provides a strong foundation for diversifying ties in the Far East, where there is huge potential for further collaboration.

Rich in oil, gas, minerals and coal, Russia's Far East is closely connected to the increasingly developed Northern Sea Route, which could become an important northern route linking China and Europe, Wang said. Infrastructure in the region remains relatively weak, while China has well-developed infrastructure capacity that could support further cooperation.

The two countries could seize this strategic opportunity to deepen economic integration in the Far East and gradually bring other Northeast Asian countries into joint projects and interconnected infrastructure networks, helping build a more integrated and mutually beneficial regional cooperation framework, Wang said.

There is also ample room for cooperation on standards, regulations, connectivity, and people-to-people ties, the expert continued.