On December 27, 1991, China recognized the Russian Federation and entered into diplomatic relations with it at the ambassadorial level. President Yeltsin visited China at the end of 1992. During the visit, the two sides issued the Joint Statement on the Basis of Mutual Relations between the People's Republic of China and the Russian Federation, recognizing each other as friendly countries. The visit marked the smooth transition of China's relations with the Soviet Union to that with Russia. In September, 1994, Chinese President Jiang Zemin visited Russia during which the two countries signed the Second Sino-Russian Joint Statement, declaring the establishment of constructive partnership featuring good neighborliness and mutually beneficial cooperation. President Yeltsin visited China again on April 24-26, 1996. President Jiang and President Yeltsin held talks on establishing and developing partnership of strategic coordination between the two countries and enhancing cooperation between them in various fields. Both sides held that to develop partnership of strategic coordination oriented towards the 21st century is the strategic decision made by the two countries which meets the interest of both countries and the interest of regional and global peace and stability. On April 25, the two presidents signed in Beijing the third Sino-Russian Joint Statement in which both sides formally declared the establishment of "partnership of strategic coordination based on equality and benefit and oriented towards the 21st century".

Sino-Russian partnership of strategic coordination is a new type of state-to-state relationship based on the Five Principles of Peaceful Coexistence which is non-confrontational in nature and is not directed against any third country. It provides conditions for both countries to enter into extensive cooperation based on equality and mutual benefit in all fields. With this partnership, the two countries are on a complete footing politically, can conduct beneficial cooperation economically, and will trust each other in security and enhance coordination in international affairs. Putting a mechanism in place is an important feature of the functioning of Sino-Russian partnership of strategic coordination. The mechanism consists of the following: 1. A system of regular top level political meeting. The heads of state and heads of government of the two countries meet annually and the foreign ministers of the two countries meet regularly to conduct extensive and in-depth exchange of views on issues of mutual interest. A telephone hotline between the heads of state of the two countries is opened between Beijing and Moscow. 2. A system of bilateral coordination and guidance for cooperation. A regular meeting committee of the two prime ministers is instituted to oversee bilateral cooperation in the economic, trade, scientific, energy, transportation, nuclear energy and other important fields and resolve major problems that occur in the cooperation. 3. A system of consultation on international issue. The two countries will, on various occasions, in various forms and at different levels, exchange views, coordinate positions and discuss policy options on important global and regional issues bearing upon on their respective interests. 4. A system of non-governmental exchanges. The two countries have set up the Sino-Russian Friendship, Peace and Development Committee, a non-governmental friendly institution oriented towards the new century, to extensively solicit public participation so as to deepen understanding and trust between the two peoples and solidify the basis for developing friendship between China and Russia from generation to generation.

In December, 1996, Premier Li Peng visited Russia, officially starting the regular meeting mechanism between the prime ministers. Chinese President Jiang Zemin paid his second visit to Russia in 1997 during which the Sino-Russian Friendship, Peace and Development Committee was formally set up. President Yeltsin paid his third visit to China in the same year, and President Jiang paid another visit to Russia in 1998. During these visits, both sides committed themselves to ushering Sino-Russian partnership of strategic coordination into the 21st century.