Between 2010 and 2021, the volume of Russian-Chinese trade increased by 2.5 times. Though China is Russia’s largest trading partner, Russia’s share in China’s trade turnover is extremely small. Russia ranks first in the supply of hydrocarbons to China, while China is the largest supplier of machinery products in Russia. Thus, a solid foundation of mutual trade was formed though with its immanent imbalances: during the analyzed period, the structure of bilateral trade has not changed significantly. Still there are some positive changes in the composition of Russian exports - increase in the share of agricultural, food and metallurgical industries, etc. The peculiarity of Russian-Chinese investment cooperation is the variety of sources of investment (offshore, informal business activity, etc.), which creates some difficulties when taking into account the total volume of mutual investments. However, it can be argued that Chinese investors are going beyond the boundaries of their traditional areas of capital application in Russia and are expanding their presence in the construction and industrial sectors. Currently, Western anti-Russian sanctions are a powerful constraint on the further development of bilateral cooperation. At the same time, Western sanctions pressure creates opportunity for forced transition to settlements in national currencies. In general, it can be predicted that for further effective interaction the two countries will develop new formats and mechanisms of cooperation in order to neutralize sanctions risks.