economics personal statement model

Sample Economics Personal Statement (admitted to Oxford, Cambridge, LSE)

by Talha Omer, MBA, M.Eng., Harvard & Cornell Grad

In personal statement samples by field.

The following personal statement is written by an applicant who got accepted to top graduate programs in economics. Variations of this personal statement got accepted at Oxford, Cambridge, and LSE. Read this essay to get inspiration and understand what a top economics school PS should look like.

You might also be interested in reading this Statement of Purpose in Economics  that got admitted to Harvard, Yale and Princeton.

Sample Personal Statement Economics

“Flick…chuggachuggachuggaa…puttt-putttt-puutttttt…rizzzz…”

The sounds coming from near the doorway may have startled an outsider but were barely noticed by the people lounging on charpoys and mooras (wicker stools). With the atmosphere abuzz with their chatter, the sputtering sound of the diesel generator lent more time to catch up as the bulbs lit up and fans whirred on throughout the haveli (palace) on an otherwise hot evening. But on days when it refused to crackle, my grandmother would enkindle gas lanterns filling the veranda with hissing sounds and soothing moonlight rays.

I still cherish these memories from my childhood trips to XYZ, my native village, some 450kms from the closest city. At the time, the short sojourns from Kuwait felt rather adventurous. However, the perspective turned wrong when I permanently moved to XYZ. Due to unannounced electricity breakdowns, we would find ourselves groping in the dark to the closest candle stand while sweating in the scorching summer.

And just when we thought it couldn’t get worse, the occasional power breakdowns segued into a full-blown crisis of the decade. Over the next seven years, we witnessed unprecedented power outages averaging 15-18 hours daily. People weren’t just lamenting the loss of mental peace; they were mourning the monetary losses worth billions of rupees translating into 1.5% of GDP.

Fast forward 15 years, and I found myself in a position to alleviate the situation. As Deputy Administrative Head of the Government’s Economic Affairs division, I administer a departmental budget worth $500 million. I am currently undertaking solarization projects. A recent shift towards renewables has occurred after public unrest during the early decade led to hasty investments in thermal-based power plants. Unfortunately, seven years later, we are still reeling from the aftermath of a bitter public backlash as we have the lowest regional electricity consumption per capita.

In addition to high tariffs, the energy sector has been marred by the accumulation of circular debt of $30 billion. This has been caused by multiple factors, such as electricity theft, transmission losses, and non-payment of dues. Having worked in Economic Affairs Division, I have also been part of a team that took massive power sector reforms, including:

• elimination of subsidies
• policy formulation on electricity theft and conservation 
• overhaul of sectoral regulatory bodies
• privatization of distribution companies et al.

However, as the Program ended, so did the reforms.

Regrettably, negative externalities from these energy woes have had spillover effects on all socio-economic sectors. The environment has especially poorly been affected by the process for the lack of an integrated generation and transmission policy framework in the renewable industry. Being a lower riparian state has also exacerbated climate change. We face extreme weather conditions – floods, droughts, smog, and diminishing water tables. Unable to agree on water issues not covered under the Indus Water Treaty has led to regular skirmishes and legal battles in the International Court of Justice.

Given the background, my country’s economic and Energy woes require a holistic understanding of the subject. This makes Economic policy specializing in Energy the right choice for my graduate studies. Furthermore, I can become an effective leader and economist in the sector through the interdisciplinary pedagogical approach covering policy, economics, management, law; practical skills; quantitative and qualitative analysis within an international context.

My aim is socio-economic development in tandem with confidence-building measures and strategic partnerships with the neighboring countries. Studying at Oxford will provide this learning opportunity in and out of the class as I will interact with some of the most brilliant minds worldwide and work in teams with them. I also look forward to student-led events, conferences, guest lectures, field trips, and panel discussions to augment my understanding of supranational political demands. This will help me lead economic policy reforms for the next 25 years.

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How to Write an Economics Personal Statement

Many students are unsure of how to write an Economics personal statement as they haven’t written one before. Starting your personal statement can be daunting, but you are not alone! We are here to give some pointers for students wishing to study Economics at university, particularly those applying to UK universities via UCAS. We have separated the process into three stages – research, writing and editing.

What to Research for your Economics Personal Statement

What to include in your economics personal statement, how to edit your economics personal statement, research your economics courses.

Research is vital for writing your Economics personal statement. First, you should have good knowledge of the Economics courses you are applying to. How does the university describe the Economics course (e.g. how Mathematical is it?). What content does the course include? Will your interested area in Economics be taught in the course?

Research Advice on How to Write an Economics Personal Statement

Second, you may want to read Economics personal statement examples from past applicants. This will give you some information what a good Economics personal statement includes, and what you should aim for. It is also good to look up any advice on writing personal statements. For example, this article you are reading! LSE also provides some general advice to writing any personal statement.

Research Which Aspect of Economics you are Interested in

Finally, you should research into the topic in Economics that you are interested in, which we will discuss more below. Google Scholar is a great way of searching for academic papers/essays regarding a specific Economics topic you want to learn more about. Another option may be to look through any suggested texts/reading for the university course you are applying to – does any topic in particular catch your eye? Finally, our article on Economics books to read for your personal statement may also help.

An Economics personal statement consist of many different components, and we explain the reason behind including each one in the sections below.

Area of Interest in Economics

In your statement, more than half of it should be used to show academic interest for a key topic/theme in Economics. The topic can be an extension to A-Level/IB syllabus that is slightly more advanced, or it can be something that will be explored further at degree level. This shows your understanding of Economics, and is a good opportunity to impress the admissions tutor with your enthusiasm. Remember – if you are interested in studying Economics, you should be self-motivated to learn more than what you are required to! Ideally, the topic/theme should also be tied to your personal reason to study the subject. This will make your interest more genuine, consistent and convincing. Have a specific topic in mind? Ask us about it !

Your Opinion on Economics

It is all well and good to explain what aspect of Economics you are interested in. However, that is not enough – admissions tutors would want to know your opinion on the issue/concept you discussed. They want to understand if have processed and understood what you have learnt, rather than just regurgitating it. It also demonstrates your ability to think and evaluate about a topic in Economics critically, showing independence of thought.

Motivation to Study Economics

Of course, you need to specify why you wish to study your subject in your statement. It is important to figure out a good reason here that is relevant to you personally, in order to stand out. Avoid generic reasons like ‘I wish to study Economics to understand the world better’ or ‘I wish to study Economics as my father works in finance’. Think deeper – what is it that is uniquely different about your environment, or what you experienced, that causes you to be interested about Economics?

Interest in Mathematics

For most, if not all Economics courses, there is a large amount of Mathematics involved. This is because Economics pursues a more scientific approach via Mathematical Modelling and Econometrics at higher levels of study. Hence, it is important for you to demonstrate your interest in Mathematics, and the use of it within Economics. You can reduce emphasis in this component if the course you are applying for involves less Mathematical modules.

Extra-curricular activities

It is important to include some extra-curricular activities relating to Economics, as it demonstrates your interest in the subject outside of your studies. Ideally this can relate to your area of interest in Economics and your motivation to study the subject. The activities can range from anything such as reading books on Economics , attending Economics events, to having a related work experience. If you want to include any experiences not relevant to Economics to show what you are like as a person, that is certainly acceptable, but should be less than 25% of your statement. Ask our Economics admissions advisor a free question below if you would like to know more about the various activities, and how to write about them.

Please enable JavaScript in your browser to complete this form. Ask Wilfred a Free Question on GCE, IB or GCSE Economics * Email * We will answer your question by email and send you relevant notes/materials for your Economics course. Email Ask

After a first draft, it is important for you to get someone to review your Economics personal statement. This can help give you an objective perspective on what others think. Show it to your careers advisor at school, your Economics teacher, your Economics classmates, maybe even parents/siblings that have gone through a similar process. Of course, those who have more exposure to the subject may be a bit more helpful, like someone who applied for an Economics degree a few years ago. If you need professional, personalized advice on your Economics personal statement, you can reach out to our qualified admissions advisor for suggestions. After receiving feedback, you can edit your personal statement accordingly, taking into account each reader’s unique perspectives. You will then have to compare the suggestions and decide which parts/sentences to keep, change or remove. After many changes/edits your personal statement will finally be concise, unique and polished enough for submission!

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• Successful Personal Statement For Economics & Management At Oxford

Last Updated: 22nd April 2020

Author: Adi Sen

Table of Contents

Welcome to our popular Personal Statement series where we present a successful Personal Statement, and our Oxbridge Tutors provide their feedback on it. 

Today, we are looking through an Economics and Managment applicant’s Personal Statement that helped secure a place at Oxford University. The Economics and Management Course at Oxford examines issues central to the world we live in: namely how the economy and organisations function, and how resources are allocated and coordinated to achieve the organisation’s objectives.

Read on to see how this candidate managed to navigate the many disciplines of E&M. 

Here’s a breakdown of the Personal Statement:

SUCCESSFUL?

The universities this candidate applied to were the following:

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Economics and Management Personal Statement

Economics is the study of now. I view it as the study of the psychology of the people who dictate our lives. The world around us is shaped by the fundamental concept of supply and demand, wants and needs, goods and services. What grips me is that everything I have studied I can apply to real life. Discussions about inflation, for example, are so applicable since its current status is active in the world of pricing; the price of a Big Mac and “Burgernomics” is something to which I can relate from my travels.

The statistical aspect of economic analysis is closely linked to my interest in Mathematics, thus I will take an Econometric route on option modules. This scientific approach to what is otherwise a field-based solely on individual theories and concepts interests me, as I find quantitative analysis much more accurate and reliable than qualitative theories. As an example, I relish analysing more Econometric models on the A-level Course: like Profit Maximisation calculations.

Despite this, Economics intertwines both Maths and Philosophy on a regular basis. I recently read an article from the Guardian by George Monbiot, which discussed the cost-benefit analysis model and whether nature could be quantified as a tangible asset, and how this would benefit neo-liberals in their perpetual quest for profit. This is just an example of how Econometric analysis does not always deliver such verisimilitude where the figures given are ambiguous. This is what is unique about Economics: there is no right answer to the question ‘Is there a right answer?’ The concept of there being methods of analysing the psychology of and nature behind the way that the interface between consumers and producers operates seems to exceed all other subjects in terms of interest.

I find it peculiar that a subject that has such a ubiquitous undercurrent in our society is so undefined and obscure; it is undoubtedly this which draws me to it. Consequently, I strive to keep up with Economics in the modern world by reading the “I” and “Guardian” newspapers, and “The Economist” magazine regularly. For wider background reading I have read Marx’s “Communist Manifesto”, Tim Hartford’s “The Undercover Economist” and “Too Big To Fail” by Andrew Ross Sorkin.

Sorkin’s book provided a gripping, in-depth insight into the world of investment banking and entrepreneurship – I finished the book in a matter of days. His book has inspired me to enter the investment sector. Upon graduation I would like to become an investment banker or negotiator, hence I am in the process of trying to arrange some work experience with the London Metal Exchange.

I completed a programme of work experience with Linden Homes this summer, through the Career Academy Programme on which I am enrolled. It was a six-week internship during which I gained a firm understanding of a construction company’s place within the national economy. I enjoyed spending valuable time in a variety of departments within the firm. I also have work experience planned in Belgium in 2013.

Additionally, I participate in a multitude of extracurricular activities. My team and I finished second in the national UMPH Business Competition; in Year 11 my team set the school record for the Enterprise Day Challenge and for three consecutive years my team won the Grimsby Inter-School Quiz without loss. Furthermore, I am part of both the Franklin College Debating Team and the weekly “Blue Sky Club”, where students meet to discuss current affairs.

Recently, a particular subject of interest has been the US election. We frequently discuss the debates and the candidates, covering subjects like their political viewpoints and how it will affect both our lives and those of the American public – plus the potential Economic ramifications of the possible outcomes. With a genuine zeal for the subject and an ability to relate my studies to the real world, I am convinced that I will thoroughly thrive at degree level Economics.

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Good Points Of The Personal Statement

The student gives a good insight into their academic interests and what’s inspired them to develop over time. They also demonstrate a passion for the subject, not only by stating their interest in it but by further explaining what interests them and why they would make a good candidate to study it at university. The student is already accomplished and explains well what they’ve gained from their various extra-curricular activities.

Bad Points Of The Personal Statement

The writing is weak and, at points, unnatural. The forced interjections of examples and unusual adjectives make it read like a student attempting to write a formal and formulaic exam essay. They would do better to write in their usual style, even if it is somewhat informal; this will allow them to better express themselves and they will come across as more interesting to those reading it. More importantly than this, however, at times, the student fails to keep up their otherwise good level of detail, and the writing becomes list-like.

This is particularly prominent when they discuss books they’ve read to develop their understanding of economics. Although they expand on one of these, they do so in little detail. Interviewers are unlikely to be impressed by simply mentioning that you’ve read a book – any student applying for degree-level economics is able to read The Communist Manifesto, for instance – but they will be impressed by your response to it and what you gained from the experience of reading it. Unless you expand on these details, a list of books you’ve read does nothing to contribute to the statement.

UniAdmissions Overall Score:

This statement is strong, except where it discusses academic work. The detail here was likely sacrificed in favour of expanding further on their extra-curricular activities and their particular areas of interest. However, they have limited discussion of their study of various classic economic works so severely that it fails to add anything to the piece. The statement would, therefore, benefit from a more balanced approach to the various areas of the student’s life.

We give this Economics Personal Statement a 4/5 as they have clearly projected their passion for the subject onto paper – the most important part of a strong Personal Statement – albeit this was at the cost of other factors that should have been covered in more depth.

And there we have it – an Oxford E&M Personal Statement with feedback from our expert tutors. 

Remember, at Oxford, the Admissions Tutors are often the people who will be teaching you for the next few years, so you need to appeal directly to them.

Our Free Personal Statement Resources page is filled with even more successful personal statements and expert guides.

Our expert tutors are on hand to help you craft the perfect Personal Statement for your Oxford E&M application.

With our  Oxbridge Economics Premium Programme we help you craft the perfect Personal   Statement , achieve a highly competitive TSA score and teach you how to  Interview effectively.

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PERSONAL STATEMENT EXAMPLE Economics Personal Statement

Submitted by James

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Economics Personal Statement

As someone who is always up to date with current affairs, the foundations that our civilisation is based on interests me, and the ways in which this is done through economic theory fills me with excitement. Millions of choices are made worldwide every second, all holding economic capability – for example I have made the choice to study economics at university. This choice has numerous microeconomic implications to many people, and is a decision made to satisfy my wants. Without me noticing it, I have made a decision based on basic economics. The regularity of economic decisions and the subconscious psychological nature of these fascinate me to a level that I want to pursue the subject and learn how the world can be made better as a result of choices that are made.

My critical thinking has developed since reading books on economics principles, while forging ever-changing opinions on how economies can be best run. My current read is ‘The Bottom Billion’ by Paul Collier, who feels strongly towards capitalist concepts and the freedom that this provides at all levels of a country’s development spectrum. While similar, my opinions are not set in stone, as I am willing to listen to other points of view and expand my knowledge. I feel that competitive spirit is inside every human being, and is key to a strong economy. Jean Tirole is one economic theorist that I have read extensively, exploring his theories on regulation and the banking industry, blaming the ‘bonus culture’ for ‘distorted decisions and significant efficiency losses, in the long run’. Delving deeper into his research uncovers how the competition for the strongest job candidates leads to lavish incentives to the employee which subsequently ‘shifts effort away from long-term investments’ and increases risk. I feel that reading many theories and opinions backed up with data can help to forge more well-rounded opinions, helping me to more deeply explore my passion.

Daily reading on Bloomberg News and The Economist are helpful in knowing global and local news, but seeing how these headlines translate into economic thoughts is what often consumes my brain. My A levels all lend themselves to forms of economics, with mathematics allowing me to think critically, business studies exploring how organisations fit into the global economy and the bureaucracy that they are under, and geography as I inspect geopolitical decision making and how population affects economics as a whole.

I am positioned as Head Boy at my school of over 1000 students, with the role given to me as a result of my peers and senior staff voting for me. With this role, public speaking has helped develop my communication skills and given me confidence to represent the school at large events. I have also lead a group bringing basketball facilities to my local area, a sport I am very passionate about, bringing an £8000 sport investment as a result of this hard work. I was also the managing director of my ‘Young Enterprise’ group of thirteen, leading us to high profits by the end of it. Work experience at PriceWaterhouseCooper and Thomson Reuters, Canary Wharf taught me about the various algorithms and theoretical ways that businesses operate effectively including auditing and risk management. Sport is a huge part of my life, playing football at premier division youth level, and for the club’s first team on occasion. I love training regularly, and being the captain of my youth team, supporting them as their goalkeeper and developing my teamwork and leadership skills.

My long-term plans are to improve my analytical skills and develop economic theories that can positively impact the world. I am also hugely interested in technology growing within economics and how this is implemented into all sorts of scenarios in different jobs. The drive and motivation I have behind these goals will push me to take every opportunity I have at university, aiming to achieve the goals I set for myself and continue to be a model student.

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Economics personal statement example 17.

Economics is a fundamental part of society whether this involves governments allocating their scarce resources in favour of education as opposed to the NHS, or as simple as an individual trying to figure out how best to spend their limited income; utilising limited resources is such a pervasive part of everyday life. This all encompassing nature of economics is key to why I want to further my understanding of the subject. My passion for economics stems from reading and watching issues concerning situations that have affected whole countries, governments, business, right down to the individual. From the hyper inflation rate in Zimbabwe to the bankruptcy of international banks and finally to the repossession of hundreds of thousands of houses in the UK, economics has been a headline subject in my life so far. Every time I pick up a newspaper or watch the news, economics is there. The opportunity to study this diverse and dynamic subject is a huge desire and ambition of mine, as it plays such a big role in the world we live in and impacts upon everyone and everything. This fascination led me to choose my subjects; studying economics has underpinned my desire to go further in the area, introducing me to key concepts it has aided me to think analytically. Studying politics has allowed me to see the deeper implications of economic policy, allowing me to add an extra dimension to what I learnt in economics broadening my knowledge of the subject. I'm aware of the requirements for Mathematics at this degree. Maths has allowed me to approach abstract theory with a logical mind set and improved my cognition of analytical processes. I view university as a challenge in which I am eager to succeed to the best of my abilities. I am aware that a number of fundamental skills are required to be successful at degree level and beyond. As the managing director of a Young Enterprise company I was able to gain new key skills; leadership was vital to success, business acumen and a problem solving mindset allowed me to take my team to the regional finals and win. Successfully completing the Duke of Edinburgh Silver award gave me vital experience of independence and self reliance something that will be key when studying at university, it also greatly improved my organizational skills; planning routes and rationing were vital. Being part of the school council and a buddy to the lower years gave me responsibility with was extremely rewarding. The interpretation of current affairs allows for differing opinions which leads to debates, something that I relish. Being chosen to attend a model UN conference in London allowed me to debate current contemporary issues in this case from the perspective of Sweden. This gave me a valuable insight into international countries and their economies. Along with debating I am keen to understand various (though sometimes controversial) economic opinions, 'Globalization and Its Discontents' by Joseph Stiglitz gave me a more informed outlook on global economic policy. Whilst working as a Sous Chef at a hotel in the summer I was able to see principals of economics applied seeing marginal product increase when extra labour was employed, division of labour was apparent is the various departments. To be at the forefront of government economics I am aware various steps need to be taken, though armed with my natural affinity with economics, evolving knowledge and inquisitive mindset, I'm determined to continue to question, discover and understand the economic world I live in.The pieces of the puzzle are assembling, university is another key piece in the puzzle.

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This personal statement was written by wazb723 for application in 2008.

wazb723's Comments

left this to the last minute and did it in a week, got alot of help of this site so i thought id give something back. Got offers for most places just waiting for surrey now.

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your statemnt is really good and original was wondering what uni offers did you get thanks

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Financial Statement Analysis with Large Language Models

We investigate whether an LLM can successfully perform financial statement analysis in a way similar to a professional human analyst. We provide standardized and anonymous financial statements to GPT4 and instruct the model to analyze them to determine the direction of future earnings. Even without any narrative or industry-specific information, the LLM outperforms financial analysts in its ability to predict earnings changes. The LLM exhibits a relative advantage over human analysts in situations when the analysts tend to struggle. Furthermore, we find that the prediction accuracy of the LLM is on par with the performance of a narrowly trained state-of-the-art ML model. LLM prediction does not stem from its training memory. Instead, we find that the LLM generates useful narrative insights about a company’s future performance. Lastly, our trading strategies based on GPT’s predictions yield a higher Sharpe ratio and alphas than strategies based on other models. Taken together, our results suggest that LLMs may take a central role in decision-making.

That is from a new paper by Alex Kim, Maximilian Muhn, and Valeri V. Nikolaev, all at Chicago Booth.  Via William Allen.

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In Talks With Putin, Xi Hails ‘Powerful Driving Force’ of Cooperation

At a summit with China’s leader, in Beijing, the Russian president called for stronger economic ties between the countries, as he intensifies his war effort.

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By David Pierson and Paul Sonne

With his army making advances in Ukraine and his political grip tightened at home after securing an unprecedented fifth term as president, Vladimir V. Putin of Russia arrived in Beijing on Thursday in search of another win: more support from his “dear friend,” Xi Jinping.

Mr. Putin, whose economy is isolated from the West because of sanctions over his invasion of Ukraine, relies on Mr. Xi, China’s leader, for diplomatic cover and a financial lifeline, including huge purchases of Russian oil.

But Mr. Putin will need more help to sustain his war machine, especially now as his military makes a push near Kharkiv, Ukraine’s second-largest city, before billions of dollars’ worth of arms arrives from the United States to shore up Ukraine’s depleted forces.

In Beijing, Mr. Putin sought to show that Moscow was deepening its ties as a bulwark against Western attempts to contain the two countries. “We are working in solidarity on the formulation of a more just and democratic multipolar world order,” he said.

He trumpeted China’s role as Russia’s number one trade partner, highlighted the use of the Russian ruble and the Chinese renminbi currency in the countries’ transactions, and said the sides would strengthen contacts between credit institutions and banks. He also said the leaders discussed working more closely in energy and nuclear power research, though made no mention of a proposed natural gas pipeline to China that Moscow would like to see built.

Mr. Xi is committed to his partnership with Mr. Putin, regarding Russia as a critical counterweight to their common rival, the United States. The two leaders share a vision of an alternative world order where autocratic countries like China and Russia can operate free of interference from Washington and its allies.

The pomp and pageantry that greeted Mr. Putin in Beijing made clear the importance of that relationship and the leaders’ “no limits” strategic alignment. Mr. Xi welcomed Mr. Putin at the Great Hall of the People with a tightly choreographed ceremony featuring a 21-gun salute, a marching band, an honor guard and children jumping and waving in sync.

Mr. Xi hailed ties between their two countries as “a model for a new type of international relations and relations between neighboring major powers.” Key to the relationship, he said, was that the countries “always firmly support each other on issues involving each other’s core interests and major concerns.”

The nations released a lengthy joint statement late Thursday that vowed deeper cooperation in a range of critical areas, including the space, military and energy sectors. The document also took particular aim at the United States, demonstrating how the world’s two most powerful autocratic powers are consolidating their alignment against a community of democracies dominated by Washington.

The joint statement implicitly accused the United States and its allies of “pursuing confrontational policies and interfering in the internal affairs of other states, undermining the existing security architecture, creating new dividing lines between countries, provoking regional tension and promoting bloc confrontation.”

The document also called on the United States not to arm its allies in Asia and Europe with intermediate range missile launchers, a move made possible after Washington withdrew from a treaty regulating the weapons in 2019 , citing violations by Moscow.

“The parties strongly condemn these extremely destabilizing steps, which pose a direct threat to the security of Russia and China, and intend to increase interaction and tighten coordination in order to counter Washington’s destructive and hostile move toward the so-called ‘dual containment’ of our countries,” the statement said.

“The signal is, ‘we are strong together,’” said Nadège Rolland, a scholar at the National Bureau of Asian Research. “Western sanctions may bite, but as long as China stands by Russia, the power of the West is limited, precisely because of their own interdependence.”

Russia publicly reaffirmed its support for China over Taiwan, saying Moscow opposed “independence of Taiwan in any form.” China supported Russia’s efforts to ensure its “sovereignty and territorial integrity” and said it opposed “outside interference in Russia’s internal affairs” but stopped short of endorsing its actions in Ukraine.

The two leaders were due to discuss the crisis in Ukraine over dinner late Thursday.

Mr. Xi is under growing diplomatic and economic pressure from the West to curtail any support that aids Mr. Putin’s war on Ukraine.

The United States has accused Beijing of aiding the Kremlin’s war efforts by providing satellite intelligence, fighter jet parts, microchips and other dual-use equipment. Senior American officials have warned of sanctions against Chinese banks and “significant consequences” for Chinese companies that assisted Russia’s war effort.

The warnings appear to be having some effect. Russian media reported earlier this year that Chinese banks have scaled back transactions with Russian firms over concerns about secondary sanctions. The change is believed to have contributed to a fall in trade between Russia and China in March from the same period a year ago, the first such decline since January 2021, according to Chinese customs data.

Shi Yinhong, an international relations professor at Renmin University in Beijing, said finding a way to restore bank transactions and trade volume may be the summit’s “number one topic of discussion.”

Mr. Putin traveled with a sizable delegation that reflected the deepening economic and military cooperation he hoped to cement with Mr. Xi in the face of such pressure from the West. Included were Andrei R. Belousov, an economist who was named the new defense minister this week; Maksim Reshetnikov, the economy minister; and Sergey V. Lavrov, the foreign minister.

Mr. Belousov has experience with China, having previously co-chaired a group formed in 2014 to promote more trade between the two countries.

Others accompanying Mr. Putin included the heads of Rosatom, Russia’s nuclear power company, and Roscosmos, Russia’s space agency, as well as five deputy prime ministers.

The makeup of Mr. Putin’s entourage suggested that the talks focused on military and space cooperation that could include how China can aid Russia’s military aims in Ukraine, said Alexander Gabuev, director of the Carnegie Russia Eurasia Center.

“What this visit gives to Putin is this avenue to have one-on-one sincere conversations with the Chinese leader, brainstorming on strategy, and then bringing the most senior military-security teams together,” Mr. Gabuev said.

Mr. Putin wants to find ways to circumvent sanctions and gain support with banking and the supply of parts, rather than ready-made lethal weapons, Mr. Gabuev said. Military-technological support, he said, seemed to be “a subject of very intensive discussions between the Russians and the Chinese.”

Mr. Putin also called for greater economic cooperation, saying the two countries should prioritize energy and agriculture, as well as advanced technologies, infrastructure construction and transportation. Chinese products, from electronics to cars, have filled the gap left by Western companies that quit the Russian market after the start of the war, allowing Mr. Putin to retain a semblance of consumer normalcy for his people despite Moscow’s isolation.

The Russian leader lauded the two countries’ use of rubles and renminbi to settle trade to circumvent U.S. restrictions on using dollars.

“Despite some actions aimed at restraining our development — some actions on the part of third countries — trade turnover between Russia and China is increasing at a good pace,” Mr. Putin said, according to Russian state media.

“Our cooperation in world affairs today serves as one of the main stabilizing factors in the international arena,” he added.

The two leaders, who have met over 40 times, including virtually, depicted their relationship as close. In a statement he read to reporters, Mr. Putin sought to show that he was both not isolated and fully in charge. He said that he and Mr. Xi were in frequent contact, enabling the leaders to “discuss any, even the most difficult problems.”

On Friday, Mr. Putin is scheduled to visit Harbin, a city in China’s northeast that for years was home to tens of thousands of ethnic Russians, many of whom were involved in railroad construction or fled to the city during the Russian Civil War.

With pointed symbolism, the Russian leader will visit the Harbin Institute of Technology, which boasts scientific exchange between Russians and Chinese dating back more than a century. The institute has become one of the most important military research universities in China, developing some of the technologies that the Kremlin may want, as Moscow and Beijing deepen their military cooperation, Mr. Gabuev said.

The details of any agreements in that area are likely to be a top focus of the Kremlin and unlikely to be revealed in public, he added.

“The substance, the most important part, is hidden,” he said. “It is the underwater part of the iceberg.”

Ivan Nechepurenko and Olivia Wang contributed reporting and research.

David Pierson covers Chinese foreign policy and China’s economic and cultural engagement with the world. He has been a journalist for more than two decades. More about David Pierson

Paul Sonne is an international correspondent, focusing on Russia and the varied impacts of President Vladimir V. Putin’s domestic and foreign policies, with a focus on the war against Ukraine. More about Paul Sonne

Our Coverage of the War in Ukraine

News and Analysis

U.S. and allied intelligence officials are tracking an increase in low-level sabotage operations in Europe  that they say are part of a Russian campaign to undermine support for Ukraine’s war effort.

Some American-made, precision-guided weapons supplied to Ukraine have proved ineffective on the battlefield , their accuracy badly diminished by Russian jamming efforts.

Ukraine has begun releasing prisoners to serve in its army , part of a wider effort to rebuild a military that has been depleted by more than two years of war and is strained by relentless Russian assaults.

Striking a Chord: A play based on a classic 19th-century novel, “The Witch of Konotop,” is a smash hit among Ukrainians who see cultural and historical echoes  in the story of what they face after two years of war.

Europe’s Defense Industry: Russia’s invasion of Ukraine jolted Europe out of complacency about military spending. But the challenges are about more than just money .

Putin’s Victory Narrative: The Russian leader’s message to his country appears to be taking hold : that Russia is fighting against the whole Western world — and winning.

How We Verify Our Reporting

Our team of visual journalists analyzes satellite images, photographs , videos and radio transmissions  to independently confirm troop movements and other details.

We monitor and authenticate reports on social media, corroborating these with eyewitness accounts and interviews. Read more about our reporting efforts .