Russia accords high priority to developing its Northern Sea Route while acknowledging substantial investment needs. China has shown increasing interest in Arctic shipping and has finance and technology. Infrastructure cooperation has been highlighted in the context of the warming relationship between the two countries. Russian scholars express considerable concern regarding China’s long-term goals in the Arctic and reluctance to allow China’s influence, but expectations of investment remain high. Chinese scholars have been optimistic about prospects for cooperation, although not satisfied with the conditions Russia seems willing to offer. This background may help to explain the almost total lack of Sino–Russian cooperation in maritime infrastructure.