Trade between China and Russia registered an over 20 percent growth year-on-year in 2017 and there are still untapped potentials in their business cooperation, Chinese Premier Li Keqiang said Tuesday.

"Between our two economies, trade now stands at about 80 billion US dollars. I believe we can work together to bump it up to 100 billion U.S. dollars through innovation and tapping potentials," Li said at a press conference after the conclusion of the annual national legislative session.

China and Russia are each other's biggest neighbors and a stable bilateral relationship is in the interest of both countries and the world, he added.