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The Russia-China Investment Cooperation Commission discussed 32 bilateral investment projects on Tuesday.
China and the US are locked in competition over trade and over military and diplomatic influence in the region.
Beijing and New Delhi have set a trade target of $100 billion by 2015.
Monthly trade surplus reached an all-time high of $49.8 billion.
China accounts for about 35 per cent of global rubber consumption.
China’s backing comes amid the EU’s announcements of a new round of sectoral sanctions against Russia.
The Australian Prime Minister said European allies are considering “short-term non-lethal military assistance" to Ukraine.
China and the US are locked in competition over trade and over military and diplomatic influence in the region.
Obama could meet Chinese President Xi Jinping at the UN General Assembly later this month.
The non manufacturing PMI tracks business activity in sectors including construction, software, aviation, railways and real estate.
