On October 19, the second China-Russia Soybean Trade and Investment Meeting and China-Russia Agricultural Finance and Insurance Seminar were held in Harbin, where four pairs of key soybean provinces and states of China and Russia were discussing the corresponding cooperation agreement.

According to Chinese statistics, from January to August this year, China's soybean imports from Russia increased by 9% year on year. Imports of soybean oil from Russia increased 2.4 times year on year. In the context of the COVID-19, this achievement has not been easy. "However, Russia still accounts for less than 1 per cent of China's total soybean imports, and there is huge potential for future cooperation.”

At present, the two sides are actively carrying out the work of "pairing" between soybean provinces and states. Four pairs of soybean key provinces and states have been preliminarily determined to carry out the cooperation, and the two sides are discussing the corresponding cooperation agreement. In addition, China Chamber of Commerce for the Import and Export of Food, Native Products and Livestock will establish China-Russia Soybean Industry Alliance with Russian Oil and Fat Alliance to promote industrial docking and cooperation in the whole industrial chain. With the unremitting efforts of both sides, the attention and participation of the industry in China-Russia soybean cooperation has been significantly increased.