Trade between China and Russia rose to its highest level since the start of the war against Ukraine in June. According to Chinese customs data released Thursday, the two countries exchanged $20.83 billion worth of goods.
The imports of the People’s Republic rose accordingly by 15.7 percent to $ 11.28 billion, faster than in May by about ten percent.
Exports to Russia increased enormously
China buys Russian oil, coal and some metals at a discount. Exports to Russia rose 90.9 percent to $9.55 billion, after rising 114 percent in May. Russia invaded Ukraine in February 2022.
Chinese conquer Russian car market
Customs does not publish details about which goods were particularly in demand. According to the analysis agency Autostat, six of the ten largest suppliers in the Russian car market are now Chinese companies such as Haval, Chery and Geely. They fill the vacuum created by Western companies pulling out because of Western sanctions.
Chinese President Xi Jinping only pledged on Monday to continue cooperation with Russia and develop a comprehensive strategic partnership. The Kremlin said on Wednesday that a visit by President Vladimir Putin to China is on the agenda. It is a good time to maintain good relations between the two countries.
Source: Krone
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