China and Russia sign 27 trade contracts

MOSCOW, April 28 (UPI) -- China and Russia signed 27 bilateral trade contracts worth $15 billion, officials said Saturday.

Chinese Vice Premier Li Keqiang, who attended the signing ceremony before a meeting on China-Russia trade, proposed the two nations work together to further promote economic cooperation, China's Xinhua News Agency reported.

Li went on to say Russia and China could expand cooperation in finance, energy and electronic exports.

China is Russia's top trade partner, with bilateral trade volume topping out at $79.25 billion in 2011, a 42.7 percent increase from the previous year.