Moscow: China and Russia have signed 21 trade contracts worth $4 billion during Chinese President Hu Jintao's visit currently underway to Russia. The trade agreements are focused on securing new energy sources.

Jintao and Russian President Vladimir Putin oversaw the signing of these contracts, including an agreement by Russian state oil company Rosneft to supply jet fuel to China and long-term export contracts for Russian steel products, on the second day of Hu's visit to Russia.

Speaking at the opening of China's biggest-ever trade fair in a foreign country Putin said, that for Russia, China had always been one of the most important global economic partners, and throughout recent years "our business ties have steadily grown and strengthened."

Among the biggest contracts was a $460-million agreement by Russia's Novolipetsk Steel to supply 94,000 tonnes of steel to Chinese electrical parts maker Tebian electric apparatus stock from 2007-2011.

China's chief interest in Russia is securing more oil and gas to meet its growing energy needs and yesterday President Jintao secured an agreement for increased deliveries of Russian oil by rail.