China, the world's second largest economy, is Russia's strategic partner, Medvedev said Saturday in an interview with the Russia-1 TV channel, Xinhua reported.
He also said that Moscow should cooperate with Beijing on high technology.
"Why should we fear them. They are our neighbours," the prime minister said after ending a two-day visit to China Wednesday.
During Medvedev's visit, Russian state-owned oil company Rosneft signed an agreement with China Petrochemical Corporation (Sinopec) to supply 10 million tonnes of crude oil each year for a decade starting from 2014.
Rosneft also signed a deal with China National Petroleum Corporation (CNPC) to line out principles for a joint-venture oil refinery set up in China's northern port city of Tianjin.