Friday, China and Russia signed a 1 billion dollar nuclear cooperation deal and issued a joint statement condemning the proposed U.S. missile defense shield along Eastern European border during Russian President Dmitry Medvedev's visit to China.
Medvedev's visit to China, his first after becoming Russian President earlier this month, sends a message to both Beijing and the West that Moscow continues to strengthen its influence in the Central Asia region as its home turf.
Under the nuclear deal, which strengthens Russia's role as a supplier to China's fast-growing nuclear power industry, Russia will build a nuclear fuel enrichment plant costing $500 million. It will also supply semi-enriched uranium worth at least 500 million dollars, the Associated Press reported.
A joint statement, signed by Medvedev and Chinese President Hu Jintao, said a U.S. plan to create and deploy a global missile defense system "does not help to maintain strategic balance and stability or strengthen international efforts to control nonproliferation."
Medvedev said America's move will harm disarmament efforts.
The leaders also raised their objection to any new arms race in space.
During their talks in Beijing, the Chinese President expressed gratitude to both Medvedev and Russian Prime Minster Vladimir Putin for sending rescue crews and a mobile hospital to the disaster area in central Sichuan province hit by the killer earth quake.
Medvedev will also hold talks with Chinese Prime Minster Wen Jiabao during his two-day visit, China's official Xinhua news agency reported.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.