Illustration: Liu Rui/GT

Russian President Vladimir Putin's state visit to China in late June was a major event in the Sino-Russian bilateral relationship. High-level visits between the two sides have gradually become a mechanism, and have turned into a driving force for the development of the China-Russia strategic partnership.

Putin's tour came on the 15th anniversary of the signing of the China-Russia Good-Neighborly Treaty of Friendship and Cooperation, and the 20th anniversary of the establishment of the Sino-Russian strategic partnership of coordination.

At this special moment, the meeting between Chinese President Xi Jinping and Putin will further shore up the foundation of bilateral ties, which not only favors the development in both countries, but also will benefit global peace and stability.

Beijing and Moscow signed over 30 deals this time covering high-speed rail, wide-body aircraft, large civilian helicopters, energy exploitation, simplifying customs control procedures, nuclear power generation, aerospace investments, media, the Internet, and the connections between the "Belt and Road" initiative and the Eurasian Economic Union (EEU).

Both sides stressed respect for international law as well as the role of the UN, their opposition to interference in other countries' political affairs, and their commitment to safeguarding the postwar world order from terrorism in all forms.

Despite the many positive achievements of Sino-Russian collaboration, there are also many problems. On June 17, Putin proposed establishing a "great Eurasian partnership," which involves EEU members, China, India, Pakistan and Iran. Beijing should first of all make an accurate judgment over the Moscow-led EEU. What kind of organization is it? How about the bloc's outlook? What's the purpose of creating the "great Eurasian partnership?" We need to consider how to cooperate with Russia based on answers to these questions. If the two sides are going to collaborate, whether the joint work between these countries and organizations will benefit China's national interests more, this is worth thorough pondering.

Another obvious characteristic is that very few of the numerous deals inked in the past have actually been implemented. Both sides were cheerful when signing the contracts but had to face bumps on the road when carrying them out.

Beijing has often mixed the boundaries of economies and politics while believing that compromises in trade deals can be made to improve political bonds. However, when it comes to those economic deals, the number of deals does not necessarily matter. Instead, it is the implementation and benefits of those deals that really matter. Russia's environment for investment is not satisfactory. In the long run, only when the Chinese side sticks to market rules, can it earn respect from Russia.

We should raise our consciousness of risk prevention in terms of economic cooperation and foreign investment while avoiding collaboration without calculating the costs. At the moment, Moscow is under the pressure of economic hardship, yet the country has not showed a sign of willingness to compromise in negotiations with foreign enterprises. In this regard, China should learn from Russia to safeguard its own national interests.

For example, among all the deals signed between Beijing and Moscow, China always provides a large payment in advance before the project is carried out. Whether such measure is reasonable requires more discussions and we should think about what to do if there will be any debt default or breach of contract.

The government should respect the autonomy of each company as well as market rules and the rights of stockholders and investors. It cannot make enterprises fulfill political tasks, or promote national strategies regardless of market rules.

In the long run, Beijing should set up a normative review mechanism over cooperation and investment in foreign nations, in which political projects and commercial programs are completely separated.

China should attach importance to joint work with Russia, but it cannot overly depend on it.

The rest of the Eurasian continent and the Pacific Ocean are equally important in China's diplomacy. Currently, the US is trying to maintain its dominance in the Pacific Ocean while Russia is seeking a leading role in Eurasia.

Uniting one side to oppose the other does not serve China's national interests. China must ponder how to keep its diplomatic independence while coordinating in global and regional puzzles.

The author is an associate research fellow of the Institute of Russian, Eastern European and Central Asian Studies at the Chinese Academy of Social Sciences. opinion@globaltimes.com.cn. Follow us on Twitter @GTopinion.