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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The former Mercedes-Benz plant in Yesipov near Moscow will begin mass production of China’s Exeed cars, the premium brand of Chinese automaker Chery under a contract assembly agreement starting in July. Mercedes-Benz exited the Russian market in April 2023, selling their shares in the Yesipov factory to the Russian local car dealer Avtodom. Interestingly, Mercedes-Benz […]
The delayed Kuragino-Kyzyl railway line, which is planned to run from Krasnoyarsk Krai to Tuva in south-eastern Russia, close to the border with Mongolia, has been proposed to be constructed and now extended to Urumqi, the capital of China’s Xinjiang Province. The announcement was made by Vladislav Khovalyg, the head of the Republic of Tuva, […]
Russia’s Kommersant newspaper has interviewed Vitaly Mankevich, the Chairman of the Russian-Asian Union of Industrialists and Entrepreneurs (RASPP) nd discussed the relationships between Russian businesses in China and India. We feature the interview below: What is the current situation with receiving payment from Russian legal entities in Chinese banks? “Briefly describing the situation is quite […]
The Sukhoi Port Blagoveshchensk logistics railway terminal will start operating in the fall of 2025, the Government of the Amur Region has reported. Blagoveshchensk is strategically important, as it lies on the Russian border with China on the Amur River. A railway bridge was completed in 2022, which connects to Heihe in China, and from […]
Alfa Bank, Russia’s largest private lender, has applied to the Chinese authorities to open offices in Beijing and Shanghai. The bank is aiming to become the first private Russian bank to open fully-fledged branches in China, and comes after it recently expanded its client support services for Chinese businesses. Alfa Bank said it is already […]
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Update June 18: As we predicted, Russian President Vladimir Putin will meet Kim Jong-Un, the President of North Korea, with the dates now confirmed for June 18th/19 in Pyongyang. According to the Kremlin, the Russian delegation will also include Foreign Minister Sergey Lavrov, First Deputy Prime Minister Denis Manturov, Defense Minister Andrey Belousov, Health Minister […]
In response to Wednesday’s (June 12) US sanctions concerning the provision of services to Russia for trading US dollars or Euros, the Bank of Russia has stated that the Chinese RMB Yuan / Russian Ruble exchange rate will now be the baseline from which other currency pairs, including for the euro and the dollar, will […]
The Bank of Russia has announced it is suspending trade in the Hong Kong dollar with immediate effect from Thursday, June 13, with the move meaning that settlements on the Moscow Exchange (MOEX) will be suspended. The suspension has come after the United States issued a further round of sanctions on Russia meaning that third-country […]
In a major trade step forward, the Eurasian Economic Union (EAEU) and China have agreed to implement vital elements of cooperation in trade digitalisation, making mutual trade flows increasingly transparent and effective. The impact will further increase multilateral trade throughout China, Russia and the Eurasian landmass. Russia’s Minister of Trade of the Eurasian Economic Commission, […]
Alexander Korytny, the CEO of Kaliningrad’s Khrabrovo Airport has stated that the airport is actively working with Chinese airlines as a service hub for Western Europe. Korytny said that “We are actively cooperating with Chinese airlines, having made a pivot to the East. We are working with five leading Chinese airlines through the government of […]
Sergei Glazyev, the Minister for Integration and Macroeconomics of the Eurasian Economic Commission, the directing head of the Eurasian Economic Union (EAEU) has been attending the China Overseas Investment Fair, which was held on May 27-28 in Beijing. China has a non-preferential trade agreement with the EAEU, which means that tariff and duty rates between […]
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