Russia-China bilateral trade has exceeded US$200 billion for three consecutive years, with China remaining vital for Russia’s economy. Key exports for Russia are oil and gas, while China sends cars, electronics, and industrial components, with both nations deepening strategic cooperation and substantial joint infrastructure projects and connectivity despite global pressures. The trade mix however is changing as Russia looks to access markets deeper into the country and its significant Central and Southern populations.
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Vladimir Serpikov, Director of the EAEU Trade Policy Department, held a working meeting with Liu Jin, Minister Plenipotentiary for Trade and Economic Affairs of the Embassy of the People’s Republic of China in Russia at the Eurasian Economic Commission on January 10th. The two sides discussed the current state and prospects for the development of […]
More than half of the countries across the world have declared a boycott of the US dollar, an analysis conducted by Russia’s Sputnik media has showed. In 2024, 14 more nations embarked on de-dollarisation, according to Sputnik’s analysis. 46 countries have switched to making transactions in national currencies, and 53 countries now openly oppose the […]
Copying someone is a form of flattery, however Chinese authorities are having to crack down on counterfeit Russian goods being sold in the country, a dubious form of cultural appreciation and one that somewhat inevitably goes with strengthening trade ties. The moves follow a rising number of complaints from consumers about the quality and authenticity […]
Brazil has just become the new Chair of the BRICS group, taking over from Russia. The 2025 BRICS summit can be expected to be held in Rio de Janeiro, where the G20 also met just a few months ago, ensuring Brazil retains a global focus of key economic participants. Many in Brazil already regard the […]
Russia’s President Vladimir Putin has instructed the government and Sberbank, the country’s largest bank and a tech innovator, to create an alliance with China to develop artificial intelligence. Putin’s directive was issued after the Artificial Intelligence Journey Conference held in Moscow last month. Speaking at the conference, the President of the Russian Federation said: “Artificial […]
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Sergei Ryabkov, Russia’s Deputy Minister of Foreign Affairs, and the primary “BRICS Sherpa” has been interviewed by Tass concerning the development of the BRICS group during 2024. This is especially pertinent as Russia held the Presidency of BRICS during the year, hosting the annual BRICS summit in Kazan. The interview covered Russia’s Presidency of BRICS, […]
The Supreme Eurasian Economic Council, which oversees legislation on behalf of the Eurasian Economic Union, (EAEU) has signed an agreement on a Unified Customs Transit System between the EAEU and third countries. The agreement is important as it reduces transport costs from the EAEU to its major trading partners. The agreement defines the legal framework […]
Russia’s T-Bank (formally Tinkoff Bank) has revealed plans to establish branches in Shanghai and Xi’an. Currently, only Russia’s VTB branch operates in China, while Sberbank and Alfa Bank have announced plans to enter the Chinese market, but their opening has not yet been announced. However, the Chinese market is in demand, especially for providing services […]
The Russian Union of Travel Industry (RUTI) has said that up to 2.5 million foreigners visited Russia for tourist and business purposes in 2024, 95% more than in 2023. The RUTI stated that “The number of foreign tourist arrivals in Russia may reach 1.8 million, in addition to about 0.7 million business trips in 2024. […]
Russia’s Rosatom state nuclear energy corporation has forecast that the cargo flow along the Northern Sea Route (NSR) reached 37.9 million tonnes in 2024. The data was revealed by Vladimir Panov, Rosatom’s special representative for Arctic development. Rosatom is responsible for the operation of Russia’s nuclear ice-breaker fleet, which supports transiting container vessels. Panov said […]
Russia has begun developing a new gas pipeline to China via Kazakhstan that will have a planned annual capacity of 45 billion cubic meters (bcm), according to Russian Deputy Prime Minister Aleksandr Novak. In a model that will be of interest to Mongolia, China will receive 35 bcm of gas per year via the conduit, […]
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