Chinese President Xi Jinping welcomed Russian President Vladimir Putin with an honour guard and gun salute at the Great Hall of the People in Beijing on May 20, 2026 [1, 2, 3]. The leaders praised progress in bilateral strategic ties. Xi said, "The reason China-Russia relations have reached this level is because we have been able to deepen political mutual trust and strategic cooperation" [1]. Putin called the partnership "an example of international relations in the modern world" [1].
The summit produced 40 agreements covering innovation, technology, energy, science, and education [4]. Moscow and Beijing also reached deals on joint energy projects during the visit [5]. China remains the largest buyer of Russian oil, including pipeline and sea shipments. Its imports of Russian oil jumped 35% in the first quarter of 2026 compared to last year [6]. The US-Iran war starting in late February disrupted supply routes at the Strait of Hormuz, increasing China's urgency to diversify energy sources [6].
A key energy topic was the Power of Siberia 2 natural gas pipeline, planned to carry 50 billion cubic meters annually over 2,600 kilometers via Mongolia to China [6]. Russia and China signed a legally binding memorandum to advance its construction in September 2025 [6]. However, pricing remains unresolved. China seeks rates close to Russia’s domestic price of about $120-130 per 1,000 cubic meters, while Moscow wants higher pricing like on the existing Power of Siberia 1 pipeline [6].
Following formal talks, Putin and Xi held an intimate tea meeting to discuss wider global issues. Yury Ushakov said, "During the tea meeting, Putin and Xi will discuss a wide range of international issues, including the situation around Ukraine and Iran, as well as relations with the United States" [5]. Putin invited Xi to visit Russia in 2027 [1, 2, 3].
The leaders are expected to continue dialogue on pricing and pipeline details ahead of further construction. The China-Russia cooperation covers a broad range of sectors reflecting deep ties amid global uncertainty [1, 4, 5].
