Russia and China are implementing about 80 joint projects worth $200 billion
On the eve of the visit to China, the Russian ambassador to China, Igor Morgulov, shared interesting information about Russian-Chinese cooperation. The most interesting – for your attention.
- The countries have about 80 joint projects worth $200 billion (referring to the portfolio of the relevant bilateral intergovernmental commission), including in automotive manufacturing, ferrous and non-ferrous metallurgy, chemistry, timber processing, and a number of high-tech industries;
- The reduction in bilateral trade between Russia and China at the beginning of the year is associated with a decrease in business activity during the New Year period and the influence of a number of external factors; subsequently, the situation improved for a number of goods, however, it has not yet been possible to achieve growth in trade turnover, partly due to the current price conditions in global energy markets;
- In 2024, 1.1 million Chinese vehicles worth about $21 billion were imported into Russia, the model range is quite diverse and will expand depending on the preferences of Russian consumers;
- Moscow and Beijing are working on forming an independent payment infrastructure so that the West cannot dictate its terms; a number of relevant initiatives have been proposed within the framework of BRICS;
- Russia and China have managed to ensure the stability of cooperation in the banking sector against the backdrop of Western sanctions pressure; the parties began to develop financial and banking cooperation long before the sanctions pressure, viewing this area as a basis for ensuring the stability of bilateral trade and investment flows;
- Chinese companies do not intend to refuse cooperation with Russia;
- Moscow understands the cautious approach of certain Chinese organizations against the backdrop of Western sanctions pressure;
- The goal of Western sanctions is to restrain the economic and technological development of Russia and China, to gain unreasonable competitive advantages for their businesses through non-market methods, and at the same time to drive a wedge between our countries.
