The theory of academic exchanges emphasises the importance of international cooperation to improve the quality of education, stimulate innovation and promote cultural diversity. China and Russia are two major world powers with rich history and culture. The exchange of international students between the countries is an important aspect of the friendly format of cooperation in higher education. During such exchange, students can improve their foreign language skills, enrich their personal life experience, ensure high competitiveness in employment, and expand their knowledge and skills in the field of their profession. This paper analyses the current situation and predicts future directions of educational exchange through various prisms, including the experience of academic student exchange between universities in the two countries. It analyses the attitudes of Chinese students studying at SPbSU towards higher education in Russia. The author notes that academic exchanges and foreign learning experiences provide opportunities for international students to broaden their horizons and fulfil their emotional needs in study and life. Students from both countries have the opportunity to immerse themselves in a different cultural and academic environment, improve their intercultural communication skills and broaden their global perspectives. It also focuses on the opinion of Chinese students about the quality of higher education in Russia. Academic exchanges of students are of great importance for the state, as they act as instruments of forming «soft power» in another country, strengthen diplomatic relations between countries, form a positive image of the state, attract investments, etc. Thus, academic exchanges are a way for countries to develop cooperation at various levels - from educational to economic. Thus, academic exchanges are a way for countries to develop co-operation at various levels - from educational to economic. Purpose. To investigate the current state of the concept of academic student exchange between China and Russia, to study the significance of this international co-operation for the development of the higher education system. Methodology. The paper uses collection and analysis of information sources, historical method, comparison and generalisation, survey with the help of the author's questionnaire. SPSS Statistics 23 software is used to analyse empirical data. Results. The result of the work is the identification of the peculiarities of the sphere of academic exchange of students between China and Russia, the determination of the importance of this cooperation for the development of the higher education system at the international level. The author concludes that cooperation in the development of innovations in key areas of education contributes to the smoothing of cultural differences between the countries, and expands opportunities for students of both countries in higher education. Practical implications. The results of the study can be used in the educational sphere of international cooperation. Teachers and specialists involved in planning the educational process in the university sphere have the opportunity to create an innovative approach to improve the academic exchange programme for students, taking into account the socio-cultural criteria analysed in the article.