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West’s sanctions on Russia “erroneous”: China
October 11, 2014, 2:48 pm

Bilateral trade has already grown by 6.7 per cent this year compared to the same period last year [Xinhua]

Bilateral trade has already grown by 6.7 per cent this year compared to the same period last year [Xinhua]

Ahead of the annual Russia-China Heads of Government meet, China’s Vice Premier Wang Yang on Saturday said Western sanctions on Russia were “erroneous”.

“China opposes the West’s use of sanctions to exert pressure,” Wang was quoted by Russian news agency Ria Novosti.

“We are certain that despite external factors of instability, the Russian people will be able to show determination and patience to overcome all sorts of current difficulties,” he added.

The US and the European Union announced new sanctions in September to punish Moscow for its alleged backing of separatists in eastern Ukraine. This round’s sanctions targeted Russian state-run and private oil and gas companies, including Gazprom, Rosneft, Transneft, and Lukoil.

Earlier in September, China put its weight solidly behind Russian President Vladimir Putin’s seven-point peace plan for Ukraine.

Meanwhile, the Chinese Vice Premier on Saturday noted that bilateral trade has already grown by 6.7 per cent this year compared to the same period last year.

“China is willing to export to Russia such competitive products as agricultural goods, oil and gas equipment, and is ready to import Russian engineering products,” Yang said.

Meanwhile in Berlin, Chinese Premier Li Keqiang said Friday he expects China to register economic growth of around 7.5 per cent this year.

China can keep its economic growth rate within a “reasonable range,” he told over 600 officials and business leaders at a China-Germany economic and technological cooperation forum.

A pace around the 7.5 per cent target — whether slightly higher or lower — will be acceptable as long as employment is guaranteed, household income raised and efficiency improved, added the premier.

After a stint of double digit growth, Chinese leaders have said they are willing to settle for a more sustainable expansion in consumption.

The Chinese Premier will reach Russia on Sunday for a three-day visit during which he will co-chair the 19th annual meeting of the heads of Government with his Russian counterpart Dmitry Medvedev.

The two sides “will extensively discuss priority issues of Russian-Chinese cooperation in trade and economy, investments, energy and culture. The documents to be signed include a number of inter-governmental, inter-agency and corporate documents on various aspects of bilateral collaboration,” said a Russian government statement.

The meet on 13th October will be attended by over 20 Cabinet members of the two countries.

 

 TBP and Agencies

One Response to West’s sanctions on Russia “erroneous”: China

  1. Eraldo Reply

    October 12, 2014 at 10:25 am

    China has shown the proper way of trade for years! USSR is returning and the former states must work out their problems properly so the highest military products can be purchased from USSR for the purpose of protecting the new trade system world wide.
    Obviously US is very envious of this fact and resorted going to war in the mid east forming a wave of anger, not only at home, but abroad. These war fronts won’t resolve the problems within ISIL’s culture and way of living, but honest trade only can prevent further wars. The Arabs are also tired of war and this fact is quite truly left unnoticed. Pushing for the new Chinese system we can only expect the new system coming via net for every household having a computer and a decent linked baking so the system can grow further and more reliable.
    US simply wants control at any cost! This fact “blinds” them of the truth. Alibaba has become the top trader in the US and thus far US is not acknowledging the many aspect of this new system.
    Many countries such as Brazil, a member of the BRICS, is truly bankrupt! I am sure China wonders a bit regarding this weak partner involved in so many scandals in the politics… Stealing. Stealing and more politicians stealing! This is the culture Brazil must face daily!!! The new candidate for presidency DISLIKE poor people in his utmost level of a human being!!! He likes only rich people and influential companies and so we can expect a very hard future of trade with China and China’s friends!
    With the same tenacity the Neves campaign is against poor people so ISIL is against those unbelievers of the quran! The one slaughter people rapidly and the other slowly! Neves simply won’t provide for the poor thus destroying them slowly; ISIL takes care of the problem swiftly! Who is right or wrong?
    Trade is the best answer but the bank of China must provide a way of buying virtual yen so people can buy using Chinese money so nations can get used to this marvelous new way of proper homogenizing the thick resources in the hand of so few!

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