News / Economy

    Russia, China Sign Energy Deals at APEC Summit

    Russia's President Vladimir Putin (L) and his Chinese counterpart Xi Jinping stand during a signing ceremony at the Diaoyutai State Guesthouse in Beijing, Nov. 9, 2014.
    Russia's President Vladimir Putin (L) and his Chinese counterpart Xi Jinping stand during a signing ceremony at the Diaoyutai State Guesthouse in Beijing, Nov. 9, 2014.
    VOA News

    China and Russia have signed energy cooperation agreements on the sidelines of the annual Asia-Pacific Economic Cooperation summit in Beijing.

    The deals, which include a second major supply route, were signed Sunday by Russian President Vladimir Putin and his Chinese counterpart, Xi Jinping. The route will supply Russian natural gas to China along a western route. In May, the two sides signed a $400 billion deal for an eastern supply route.

    Both men praised the status of Russia-Sino relations after the signing ceremony, which have become increasingly important to Moscow and Beijing as both sides deal with strained relations with the West on a variety of issues.

    Earlier, President Xi has presided over the APEC opening ceremony, saying that China's slower growth rate should not be a matter of concern.

    Xi on Chinese economy

    He told world business leaders in Beijing Sunday that China is committed to deepening reforms and giving the market more influence in the economy.

    China's economy slipped to a new low in the third quarter and is now at the lowest point since the 2008 and 2009 global financial crisis.

    The Chinese leader also called for more progress on a regional free trade agreement and highlighted Beijing's plans to set up a $40 billion fund for infrastructure development in the region.

    However, U.S. Trade Representative Michael Froman said Sunday that Washington will pursue its own plans for a 12-nation "Trans-Pacific Partnership" that will exclude China.  

    U.S. President Barack Obama left Washington early Sunday on a trip that will take him to China for the APEC summit before heading to Myanmar - also know as Burma - then on to Australia to attend a G20 summit.  

    U.S. officials say the president will speak with Asia-Pacific leaders about Washington's new focus in the region and other matters of mutual concern.

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    Comment Sorting
    Comments
         
    by: Anonymous from: Germany
    November 09, 2014 4:35 PM
    As Russia and China strengthen their economics together to stand up to EU and USA,we must do the same. USA and EU must united in one body! And we must stop buying Russia's gas!
    In Response

    by: Anone from: RF
    November 10, 2014 12:40 AM
    Yes, we should stop selling you such a cheap gas, buy it from the USA and pay twicw more!

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