China

Russia Needs To Reduce Import Dependence On China: Chamber of Commerce & Industry

China, Economy, Trade

The Russian Chamber of Commerce & Industry has suggested changes to Russia’s import substitution sector lest it start to rely too much on Chinese manufacturing.   To reduce import dependence in Russia’s manufacturing and mechanical engineering sectors, it is essential to accelerate the development of component manufacturers – a third layer of Russian industrialisation. At present, […]

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St.Petersburg Provides SME Incentives To Develop East China Exports

China, Logistics & Transport, Trade

The St. Petersburg government is to launch a pilot scheme for local SME exporters, providing subsidies for domestic businesses in the city looking to access markets in Eastern China. At the initial stage, it is planned to access four major ports in China: Qingdao, Shanghai, Ningbo, and Guangzhou. The initiative has been arranged by the

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Arkhangelsk-Shanghai To Become A Regular Northern Sea Route Service

China, Logistics & Transport, Trade

China’s Yangpu Newnew Shipping plans to make 10-12 shipping runs from Shanghai to Arkhangelsk along the Northern Sea Route (NSR) in 2024, according to the government of the Arkhangelsk region. Alexander Tsybulsky, Arkhangelsk Regional head, and Tsetsen Goryaev, the General Director of the Arkhangelsk Commercial Sea Port and Elena Maximova, the General Director of Torgmall

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Russia’s Aurus Luxury Auto Brand Takes Over Toyota’s St.Petersburg Production Plant

China, Investment, Trade

In another indication of how Western sanctions have spurred Russia’s domestic industries, a St. Petersburg-based plant formerly belonging to Japanese automaker Toyota has been transferred to Russian high-end carmaker Aurus, according to Denis Manturov, Russia’s acting Minister of Industry and Trade. Production of Aurus cars at the plant will start before the end of 2024.

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First Agroexpress Chelyabinsk Freight Train Leaves For Chengdu

BRICS, China, Infrastructure, Logistics & Transport, Trade

The Yuzhnouralsky Dry Port and Rusagrotek LLC have sent the first container train with agricultural products from Chelyabinsk to Zabaikalsk, one of the China border crossings. The train will proceed to Chengdu in China’s Sichuan Province, with the total travel time estimated at 14 days. The train consists of 70 forty-foot containers. The route was

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Eurasian Economic Union, China Meet To Discuss Trade and Economic Cooperation

China, Trade

On April 19, in Beijing, Andrei Slepnev, joint chair of the Minister of Trade of the Eurasian Economic Commission and Li Fei, China’s Vice Minister of Commerce held discussions of the Joint Commission on the implementation of the Agreement on Trade and Economic Cooperation between the Eurasian Economic Union and the PRC. China has a

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Half of Russia-China Financial Transactions Arranged By Third Party Brokers

China, Finance, Trade

An estimated 50% of all financial transactions conducted between Russia and China are facilitated by means of intermediaries to avoid exposure by Chinese lenders to the risk of secondary sanctions, Reuters have reported, citing trade consultants and bankers, as well as importers and exporters. In December, US President Joe Biden signed an executive order that

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Putin To Visit China In May

China

Russian President Putin plans to visit China in May, he has stated, and will be meeting with Chinese President Xi Jinping in Beijing. This would be Putin’s first foreign trip since the presidential elections in March and will follow his presidential inauguration on May 7. The share of Russian Ruble and Chinese Yuan settlements in

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Norilsk Nickel Relocates Copper Smelting Division To China

China, Foreign Investment, Trade

Norilsk Nickel, the metals group controlled by Russia’s richest man Vladimir Potanin, will move some copper smelting production from its home country to China, as western sanctions restrict access to key pieces of equipment and cut profitability, the Financial Times reports. Potanin said that the mining major plans to relocate its copper smelting capacity at

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