The article is set to analyse the socio-economic challenges of the pandemic caused by a new COVID-19 coronavirus infection in the Russian Federation and the People‘ s Republic of China amid the crisis in the global financial and economic system. The research is Abstract. The article is set to analyse the socio-economic challenges of the pandemic caused by a new coronavirus infection of COVID-19 in the Russian Federation and the People‘s Republic of China amid the crisis in the global financial and economic system. Based on the analysis of the relevant macroeconomic indicators of the leading world powers. The purpose is to assess the Russian actions and China in the genesis of development, the fight against the epidemic, and estimate the possibility of positive economic growth for both Russia and China. The research produced a number of key findings: the situation in Russia is complicated not only by the pandemic but also by the fall in commodity exports, demographic decline, and investments outflow, as the statistical data of 2020 shows; China, on the other hand, has managed to overcome the increase in the number of diseases and put its economy on a positive growth trajectory in the second half of 2020. The topicality of the study is caused not only by the growing importance of the «Chinese factor» in world politics and economy but also by the demand for realising the potentials of the Russian-Chinese strategic partnership amid the discussions of the world expert community regarding the direction of China‘s development in the context of trade wars and increasing sanctions pressure. As for Russia, it needs to have an unbiased, profound and diversified understanding of its largest neighbour, with whom Russia has relations of constructive strategic political and economic cooperation. The main strategic interests that guide Russia‘s actions in strengthening the relations with China are based on the need to maintain good neighbourly relations with an economically and politically powerful neighbouring state and the need to see China as a reliable partner in the face of confrontation with the West. The article authors have defined the rivalry areas and uncertainty that have emerged in Russian-Chinese relations recently. Given the lack of mutual trust, the effectiveness of economic cooperation is clearly weaker than the political interaction of the two countries. While Russia and China have declared general principles of strategic partnership, the parties ‘understanding of these principles does not always coincide.
new coronavirus infection COVID-19; the second wave of the pandemic; «rescue packages» (bailouts – пакеты фин. помощи?); «helicopter money»; competitive model of economic development; comprehensive partnership and strategic interaction; OPEC +.