Russian Prime Minister Dmitry Medvedev and his Chinese counterpart, Li Keqiang, have called for annual bilateral trade between the two countries to be boosted to $100 billion by 2015.
Medvedev said during his meeting with Li in Beijing on October 22 that, even in the current difficult economic times, Russia and China have continued to increase trade.
"I believe that $100 billion and $200 billion are quite achievable figures," Medvedev said.
He added that Russia had signed an $85 billion deal to supply oil to China.
The official Xinhua news agency reported the two governments have also signed an agreement to jointly build an oil refinery in Tianjin, east of Beijing.
Medvedev said talks were continuing on a deal for Russia to supply natural gas to China.
The Russian prime minister was due to meet Chinese President Xi Jinping later on October 22.
Based on reporting by AP, ITAR-TASS, Interfax, and Xinhua