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China's Ministry of Commerce and Russia's Ministry of Economic Development issued a statement about the road map for high-quality development in the bilateral trade in goods and services by the year 2024, the year in which the two countries aim to raise bilateral trade volume to 0 billion.

China's breakthrough in high-power fiber laser is also proving to be lucrative.

China will help export-oriented companies to set up platforms for domestic sales and encourage them to participate in the country's big-ticket investment projects to offset the shortfall in revenue from exports due to the COVID-19 epidemic and inject fresh momentum, officials said on Tuesday.

China will further cut restrictions on foreign investment and address challenges facing foreign companies investing in its market this year, the country’s top commerce official said.

China's GDP in the April-June period rose 3.2 percent year on year, bouncing back from a 6.8-percent contraction in the first quarter. Contraction in the retail sector declined markedly, while foreign trade in the first half exceeded expectations.