Xi welcomes ‘old friend’ Vladimir Putin in Beijing and secures major agreements

Putin officially met his “good and old friend” Xi Jinping on Wednesday, and oversaw the execution of 20 agreements in high-stakes visits ranging from trade to tech.

According to a press conference, Trump left the Chinese capital last week without concluding a formal deal. 

Meanwhile, this year marked the 30th anniversary of China and Russia’s collaborative partnership. Xi praised the “underlying relationship” of the Moscow-Beijing alliance, despite to the China’s tense relationship with the West.

Putin is welcomed outside the Great Hall of the People, including a guard of honor and a gun salute. But the significant difference in relations became clear as the pair set down to discuss crucial meetings. 

In his formal address, Putin delivered an old Chinese idiom in Russian. For those unversed, the saying comes from one of China’s oldest poetry collections, dating back 3,000 years.

Russia and China relationships were becoming fragile in wake of the ongoing conflict with the US. Despite the ongoing disruption linked to the effective closure of the Strait of Hormuz, Putin said Russia remained a “reliable energy supplier.”

Notably, China has become Russia’s prominent trading partner since the start of the war in Ukraine and is the preferred customer for Russian oil and gas.

The war in Ukraine has left adverse effects on Russia’s economy, with revenues increasing Moscow’s reliance on Beijing. It has been observed that two-way trade between China and Russia observed a significant rise of nearly 20 percent in the first four months of this year.

There was no public mention of the proposed Power of Siberia 2 gas pipeline, which is proposed to associate Russia to northern China. 

As Xi welcomed Putin to Beijing, China has reportedly confirmed that it will buy 200 Boeing jets after US President Trump and his Chinese political equivalent Xi Jinping in a high stakes Beijing visit last week.

Primarily, the US deal will provide China with guaranteed supply for aircraft engine compartments. Under the new deal, both sides will work towards an extension of the tariffs temporary agreement they agreed in October and seek tariff cuts on $30bn or more of goods.

Having Putin visit China after Trump's visit, I think, from China's perspective, is a gesture to the outside world — it's balancing relations with these countries. For Russia, it does not want to be left out,"Dr Jiang said.

He was of the view that Putin’s visit to Beijing may not have a crucial impact on the US, but it will have a significant impact on other nations such as Australia and Canada. 

Additionally, reports indicate that Putin's visit will wrap up with a private meeting on key issues of the international agenda.