China becomes largest trade partner of Russia

China has become Russia's top trade partner in the first two months of 2012, according to a report released by the Russian Federal Customs Service. According to the report, in the first two months of this year, China-Russia trade turnover rose 21.1% year-on-year, reaching $13.3 billion. The report also showed that Russia posted a trade surplus of $42. 5 billion for the first two months of 2012, a 26.9% year-on-year increase. Recent years have witnessed a rapid growth of Sino-Russian trade volume. China became the largest trade partner of Russia, overtaking Germany, in 2010 for the first time. In 2011, bilateral trade reached a record high of $80 billion. The two countries have set a goal of lifting bilateral trade to $100 billion by 2015 and to $200 billion by 2020.