Abstract: With abundant reserves of mineral resources and huge exploration potential, Russia has become one of the major areas for Chinese enterprises to conduct overseas prospecting and development of mineral resources. This paper studies into the bilateral political relations, economic complementarities, geographical advantages, and improvements in investment climate, points out the advantages of investing in prospecting and development of Russian mineral resources, and raised issues for investment including legal risk, investment barrier, and corruption. The paper then proposes policy suggestions including further deepening political mutual trust, strengthening fiscal fund support and guidance, focusing on key regions and key minerals, and improving investment methods.