Russian President Vladimir Putin speaks at his annual press conference in Moscow, Russia, on Dec. 20, 2018. (Xinhua/Bai Xueqi)

MOSCOW, Dec. 20 (Xinhua) -- Russian President Vladimir Putin on Thursday praised the achievements of China's development in the past decades, calling China's reform and opening-up "the right step."

"We are positive about the changes that happened in China. I believe for a country like China, with a population of 1.3 billion, stability and predictability are very important, including the domestic policy," Putin told Xinhua at an annual press conference.

"Stability guarantees the progressive development of China," he added, referring to China's reform and opening-up in the past 40 years.

Putin also applauded the closer China-Russia ties and expected the total volume of bilateral trade this year to reach the targeted 100 billion U.S. dollars.

"This is the result of the state of Russia-China relations and the rise of trust between our countries," he said.

The president also noted that cooperation between Russia and China helps to maintain more stable global dynamics.

"We cooperate not only in the spheres of economy and security, but also actively cooperate in the international arena," Putin said, noting that "the Russian-Chinese interaction in the international arena is a factor of stability and predictability for the development of the world."

The Kremlin initiated Putin's annual press conference in 2001, which provides an opportunity for the president to elaborate on policy and solve pressing problems facing ordinary Russian citizens.