Infrastructure cooperation with Russia set to be enhanced

"With sufficient policy and financial support from both sides, their investment and expertise will not only be used in the projects for the 2018 FIFA World Cup in Russia but also in the eastern part of Russia to further connect more potential market destinations in the Asia-Pacific region," he said.

To ensure balanced trade, China has already speeded up the construction of cross-border transportation infrastructure to further improve its logistics capabilities, including roads and bridges on cross-border rivers.

China-Russia energy deals

49 deals cement partnership

The Russian government has said that it will facilitate China's goods shipment using its railway networks and ports to reach different marketplaces.

Evgeny Gavrilenkov, chief economist of Sberbank of Russia, the country's largest commercial lender by assets, said Russia is taking several steps to diversify its economy and to offset the slowdown in economic growth.

"We expect to see more deals between the two governments to further expand local currency settlement for bilateral trade, cross-border investment and financing. It will strengthen bilateral exchanges," Gavrilenkov said.

In another development, Russia's central bank governor said on Tuesday that Russia and China were close to reaching an agreement on conducting swap operations in roubles and yuan to enhance bilateral trade, Reuters reported on Tuesday.

"We are at a rather advanced stage of working through the questions about rouble-yuan swaps to facilitate trade finance," Russian central bank governor Elvira Nabiullina told journalists on the sidelines of a central bank conference in Russia's second-largest city of St. Petersburg.

"A meeting is planned in China next week, and we will continue to discuss (the matter)," she said.