Two-way trade between China and Russia hit a record high of over $100 billion last year. Major strategic cooperation projects have been steadily carried out in such areas as energy, transportation, agriculture, aviation and space.

Xi said that the notable results of the two countries' business cooperation are especially valuable given the current complex environment of sluggish global trade and investment and surging protectionism in the world.

China and Russia are making proactive efforts to bring their trade volume to a higher level and promote high-quality development in bilateral trade, he added.

Xi will also attend the 23rd St. Petersburg International Economic Forum and address its plenary session during the visit.