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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International cargo transit along the Northern Sea Route (NSR) has already reached a volume of 3 million tonnes, exceeding 2023’s figures by 40%, according to Alexey Likhachev, Director General of Rosatom. He was speaking during the launching ceremony of Russia’s latest nuclear icebreaker, “Chukotka”. The vessel is Russia’s fifth nuclear-powered icebreaker, with Russia the only […]
The Russian government and relevant authorities should simplify the possibility for foreign tourists to enter regions of the Russian Far East, President Vladimir Putin has said, in assignments given at the conclusion of meetings with Russian officials during the recent Eastern Economic Forum in Vladivostok. The Russian State Cabinet, together with the Foreign Ministry, the […]
Overall tourism numbers to Russia have tripled from the beginning of 2024, according to Russia’s Federal Security Service (FSB). There were 13 million trips by foreign nationals to Russia from January to September 2024, up 11% from the same period last year, according to data from the FSB border service. The data also shows a […]
The Kaliningrad Amber Combine (KAC), which operates a chain of Amber-specific jewelry stores in Russia, has opened an outlet in Shenzhen, China, and is looking at the same in Hong Kong. The company will operate under a franchise agreement with the Chinese company “Shenzhen Hudafu Jewelry”. The store, which has an area of 115 square […]
As everyone knows, the United States is currently holding its Presidential elections, with the voting population evenly split. No one seems able to make a prediction. Analysts are unable to analyse, some fearful of ‘getting it wrong’ – with political repercussions to follow – and therefore building in a closer contest in polls. National newspapers, […]
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The Basel-based Bank of International Settlements (BIS) is poised to drop cooperation with the mBridge financial settlements system, in a move that would delay the introduction of any alternative financial settlements system to SWIFT. mBridge has been developed by the Central banks in China, Thailand, Hong Kong, and the UAE, and has recently and successfully […]
The Arkhangelsk Region wants to establish joint ventures with Chinese companies in Dalian (Port Arthur) to manufacture specialized container equipment, as well as service centres for their maintenance. Arkhangelsk and Dalian are linked by the Northern Sea Passage, a growth route for Russia-China trade. The scheme was discussed on October 24, 2024, during a meeting […]
Haval autos, (part of China’s Great Wall Motors) plans to expand the production facilities of its Tula based factory, with upgrades now ongoing. Starting in 2025, after the modernisation is completed, Haval will produce up to 200,000 cars per year from the Tula site, according to Andrey Akifyev, Executive Director of Haval Motor Rus. That […]
Asia was well represented at the 2024 BRICS Heads of State Summit, with both China and India, the two most populous countries in the world attending, together with four ASEAN big hitters in Indonesia, Malaysia, Thailand and Vietnam now going through a membership process. Other Asian economies were also present. We summarise what happened on […]
Vladimir Putin has met with Xi Jinping, the Chinese President, at the BRICS Summit in Kazan. This is what they had to say: Putin: “Chinese comrades and friends, I extend a warm welcome to all of you here in Russia, particularly in the Republic of Tatarstan, in Kazan, the capital of the Republic. This region […]
Chinese and Vietnamese banks are interested in expanding into and opening branches in Russia, according to Anatoly Aksakov, the Chairman of the State Duma’s Financial Market Committee. Aksakov is also the head of the Association of Banks of Russia’s council. He said “Several credit organizations from China, not the top tier or largest ones, are […]
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