China is also a key member of the Six-Party Talks on the Korean Peninsula nuclear issue, another matter of concern to Russia. On the broader issue of world order and global governance, Beijing and Moscow have long advocated multi-polarity, territorial sovereignty and non-interference in the internal affairs of a country. Since the early 1990s, the People's Liberation Army of China has been a major customer of Russia's defense industry.

All these are notable bilateral achievements. But real efforts are required in a number of areas for the relationship to become more rewarding. Russia needs to find ways to diversify its raw-materials-heavy exports to China. Chinese nationals working in Russia need to acquire proper legal status. Sino-Russian elite dialogue has to become deeper and more sincere to deepen understanding and help establish trust. The study of Chinese language, history and civilization by young Russians should be expanded drastically, including through exchange programs with Chinese universities. Organizing the occasional "Year of China" and "Year of Mandarin" in Russia alone will not do.

The Russian political establishment needs to modify its traditional Euro-centric view of the world. Russia is a Euro-Pacific country, with its Pacific element growing in importance with the rise of Asia that is being driven in a big way by China. Developing eastern Siberia and the Far East is a national priority for Russia, and the success or failure of the enterprise will reflect on its prospects in the 21st century.

After Vladivostok hosts the Asia-Pacific Economic Cooperation meeting in 2012, Russia should turn it into a Pacific headquarters of its leadership. Vladivostok should be transformed into a venue for diplomatic contacts with Asian and Pacific countries, and a business gateway to the vast region.

But amid all this, is there a chance of Sino-Russian relationship suddenly turning sour? Not under the present circumstances and the current leaderships in the two countries. But a word of caution is needed. Both countries are seeing a rise in nationalism - defensive in post-Soviet Russia and more assertive in China, which is feeling its new strength and has not forgotten the humiliation it was subjected to in the past. The two phenomena are understandable from a historical perspective, but the governments in Moscow and Beijing need to ensure that national feelings of their citizens are converted into constructive patriotism, rather than destructive xenophobia.

Despite his obvious importance, Dmitri Medvedev will be only one of about 1 million Russians who come to China each year. It is ordinary people, tourists and business travelers; academics and artists who form and shape modern Sino-Russian ties. What started as party-to-party and then became state-to-state has now being transformed into a people-to-people relationship. This is, by far, the strongest bond between the neighboring countries.

The author is director of the Carnegie Moscow Center.