To further expand bilateral strategic cooperation through trade and investment links between their nations, China and Russia over the weekend inked some 27 agreements worth $15 billion that mostly includes partnerships on energy, equipment, IT and finance.

At the same time, Chinese Vice Premier Li Keqiang, who arrived in Russia on Thursday, urged both countries, primarily through their local governments, to deepen strategic relationships to bolster increased cooperation and investments.

An attitude of openness is especially important, The China Daily quoted Vice Premier Li as saying in his meeting with local leaders of the Volga Federal District in the city of Kazan.

Considered as the most industrial in Russia, the Volga Federal District is known for its auto, rocket, agriculture and oil industries. It is where 20 per cent of Russia's oil is produced, according to The China Daily.

Trade between China and Russia in 2011 jumped 42.7 per cent to $79.25 billion from a year ago.

Russia's venture capital in China in 2011 amounted to $818 million, mostly in manufacturing, construction and transport, while China's counterpart investment in Russia amounted $2.91 billion, in energy, agriculture, forestry, telecommunications, construction and service sectors.

Other heads of local governments present during the meeting expressed willingness to cooperate with Chinese counterparts in wood processing and vegetable production, tourism and, science and technology.