Vladimir Putin: Ladies and gentlemen,

It was the 15th regular meeting of the Russian and Chinese prime ministers. The outcome of this meeting confirms that our strategic partnership is developing dynamically in practically every area, including the economy, investment, science, culture, as well as international environmental projects of major importance.

Today we have discussed almost every issue on the bilateral agenda. We both agree that our countries now have an excellent opportunity to not only accelerate the post-crisis recovery of our economies and trade ties but also take our cooperation to a new level. This is confirmed by the statistics: in the first eight months of 2010 bilateral trade increased by more than 57%. I am confident that we'll see higher numbers than before the economic crisis by the end of the year.

The scope of our investment cooperation is also expanding. Major investments are being made in infrastructure and transport projects. And Russian and Chinese partners have shown great interest in collaborating. We will support interaction between our banks and business communities, creating favourable conditions for deepening direct business contacts. This is the primary objective of the plan for investment cooperation between Russia and China and the programme for cooperation between Russia's Far East, Eastern Siberia and northeastern China.

This meeting has produced over 20 bilateral agreements. You just witnessed the signing ceremony for a part of this package of agreements. They expand the legal framework of our cooperation and are intended to promote our infrastructure projects and business contacts.

In this context, I would like to highlight an agreement made between Sberbank and the Export-Import Bank of China for opening a credit line worth $2 billion. These funds will go toward large joint economic projects.

I would like to mention another important decision which we probably haven't discussed as much as other initiatives. We are determined to use our national currencies more extensively to settle mutual accounts. So far we have settled accounts in foreign currencies, mainly U.S. dollars. Roubles are now traded at the Chinese exchange, and yuan will be traded at the Moscow exchange starting in December. This is an important step towards strengthening direct ties in trade and the economy without any losses. And this is certainly the result of our efforts to strengthen our economies and financial institutions.

Our energy dialogue is also developing dynamically. I'd like to emphasise that energy cooperation is critical for the stable development of our economies. We have finished the construction of the oil pipeline connecting Skovorodino and Daqing. I appreciate the attention that the Chinese president and prime minister have given to this project. We have finally completed it, and on January 1, 2011 Russia will begin the commercial supply of its oil through this pipeline. We have laid the foundation for a large oil refinery in Tianjin. Gazprom and China National Petroleum Corporation are now negotiating Russian natural gas supplies to China.

We have big plans for nuclear energy. We have already had positive experiences cooperating on peaceful nuclear energy programmes – the facilities constructed through the first stage of the project for the Tianwan nuclear power station, the most advanced station in China, have been put into operation.

We have begun work on the second stage of the Tianwan nuclear power station, specifically the third and fourth power generating units. And we are negotiating the construction of a demonstration nuclear power plant with fast neutron reactors in China. We have really far-reaching and serious goals to meet. I am confident that our economic cooperation has very bright prospects.

We also need to build up interaction in culture and education. Our major ongoing project, the Years of the Russian and Chinese Languages in our countries, has proved to be very successful. We are set to start new large-scale projects to expand contacts between ordinary people in Russia and China, as well as cultural ties, including through the project for the Years of Tourism in Russia and China.

You have just witnessed the signing of an agreement on creating a special group to promote student exchanges. Today we have also made a decision to create a subcommission for cooperation between young people; we expect that it will intensify cultural and academic exchanges and develop exciting new initiatives that will be of interest to young people in our countries.

In closing, I would like to thank my esteemed counterpart Mr Wen Jiabao and all our Chinese partners for the amount of work they had to do to prepare for this meeting and today's talks. Thank you very much.

Wen Jiabao (as translated): Ladies and gentlemen, Mr Putin has just given a detailed description of the agenda and outcome of the 15th meeting of the Russian and Chinese prime ministers. I completely agree with everything he said. Today we attended a signing ceremony for 12 bilateral agreements. This is in addition to another six agreements signed yesterday.

We accomplished a great deal at this meeting, making another major contribution to the process of strengthening our political cooperation. We have made a lot of progress with the agenda of strategic cooperation since our meeting in Beijing last year.

Russian and Chinese leaders regularly meet with each other. Our countries support each other and cooperate on a number of important issues, expanding political interaction and strategic partnership. There has been a shift in bilateral cooperation in trade, the economy, energy, finance and interregional relations. We held the Year of the Chinese Language in Russia, which went off successfully.

Strategic partnership between Russia and China has withstood serious trials and is rising to a new level. We have strengthened the level of trust, and now we are even more determined to address different issues together so as to secure and build on our mutual success.

Mr Putin and I have frankly exchanged opinions on the current state of our relations and particular issues related to integrated and strategic partnership.

We have reached agreements on a number of other issues as well, incorporating new commitments into the joint communiqué that Mr Putin and I signed today. In addition, our government ministries and agencies have concluded at least ten bilateral agreements.

I am very confident that these efforts will provide a new impetus for the comprehensive strengthening of Chinese-Russian relations and strategic partnership.

I would like to mention once again that China is strictly following to a path of peaceful development and supports Russia's revival and its power in the world. Russia and China's modernisation will not harm other countries' interests. The strong and stable relations between China and Russia meet the countries' core interests, serve as a major guarantee of the preservation of the global strategic balance and encourage global progress and development.

We are interested in facilitating strategic cooperation with Russia in Northeast Asia, Central Asia and the Pacific Region to ensure the stability and development of the more remote regions of the two countries. Moreover, we are prepared to continue close cooperation and coordination with Russia in such major international organisations as the United Nations Security Council, the G20, the Shanghai Cooperation Organisation and BRIC in order to support the establishment of a new international political and economic order that is both just and rational.

The Russian-Chinese partnership is wide ranging and has immense prospects. In this regard, we should strengthen cooperation in the energy industry, expand the scope of trade and investments, and launch new fields of cooperation. It is important to implement joint projects in science, research and investment, to promote financial collaboration and to regulate trade and mutual contacts, including tourist traffic.

It is necessary to efficiently use natural resources, protect the environment and pay serious attention to implementing the program for partnership between China's northeast provinces and Russia's Far East and Eastern Siberia regions.

China is ready to actively contribute to the construction of infrastructure and the establishment of special economic zones in Russia as part of joint efforts to facilitate the comprehensive development of the two countries' economies and the expansion of their bilateral trade and economic ties.

China and Russia should continue to intensify contacts in culture and education to create a strong social platform for further strengthening bilateral cooperation and promoting public opinion on this issue to develop Chinese-Russian links. A major step taken at today's meeting was the establishment of a subcommittee on youth-related issues which will promote regular ties between the young people in both countries.

I am very pleased with the fact that Chinese has become one of most popular foreign languages in Russia. We are ready to assist young Russians in studying Chinese language and culture and we always hope to see Russian students in China.

The global financial crisis and its effects on the world's political and economic development are massive and long-lasting. We expect another stage of the crisis with a variety of challenges arising. As two neighboring powers, China and Russia have the responsibility, the ability, and the confidence to secure mutual interests and promote global peace and development.

The year 2011 will mark the tenth year of the Treaty of Good-Neighborliness and Friendly Cooperation signed between China and Russia. We should extend the concept of the everlasting friendship and the mutual development between China and Russia to take our relations to a new level.

Thank you for your attention.