China and Russia signed $3.5 billion (€2.35 billion) in commercial deals in Beijing ahead of a meeting between the two countries' premiers.
More agreements would be signed when visiting Russian Prime Minister Vladimir Putin met Chinese Premier Wen Jiabao later, according to Russian Deputy Prime Minister Alexander Zhukov.
‘It's the first time, perhaps, that such large commercial deals are being sealed in such volume between Russian and Chinese enterprises,’ Mr Zhukov said, explaining the results of a joint economic forum held in the morning.
Mr Zhukov said the deals included a pair of $500m banking deals, one involving Russia's Vnesheconombank (VEB) and the China Development Bank and the other between Russia's VTB bank and the Agricultural Bank of China.
VEB also signed a $52m deal with the Export-Import Bank of China.
Earlier, Russian gas export monopoly Gazprom announced it had signed a preliminary agreement on gas supplies to China with China National Petroleum Corp (CNPC).
The deal, the terms of which were not immediately disclosed, was signed during Russian Prime Minister Vladimir Putin's visit to Beijing.
Earlier, Gazprom chief executive Alexei Miller told reporters that Russia could potentially supply about 70 billion cubic metres of gas per year to China.
The Russian government also has said other agreements due to be signed included one committing each country to notifying the other of the launch of ballistic missiles from its territory.
