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The trade turnover between Russia and China grew after the introduction of the US and EU anti-Russian sanctions
Over the past 10 months, the trade turnover between Russia and China totaled $ 78 billion, an increase of 10% over the same period last year. This was stated by Director of the Department of Europe and Central Asia Ministry of Economic Development of China Lin Ji.
- This is a good indicator. And the situation is not easy. Oil prices also affect our economies, Ji said. - I believe that growth will continue in the coming years. We are confident that our petroleum product turnover will increase. From 2018, natural gas supplies will go along the eastern route.
According to the official, Chinese exports amounted to $ 44 billion, which is 10% more compared to the same period last year, and imports from Russia amounted to $ 34 billion (an increase of 3,4%).
The trade turnover between the two countries increased due to the introduction of anti-Russian sanctions by the West. According to Ji, more than 50% of bilateral trade is manufactured by machine-building and industrial equipment. Also, the supply of computers and telephones is growing rapidly. The turnover in the sphere of consumer goods also increased. Serious growth was observed in the export of agricultural products, in particular, Chinese apples.
“We expect to bring the trade turnover to $ 2020 billion by 200. China is interested in seeing as many Russian products as possible on the Chinese market, because Russia is famous for its industry and high technologies,” Ji said.
Also, the Chinese diplomat noted the importance of switching to the national currencies of both countries in bilateral trade. This year, according to the statistics of the Moscow Interbank Stock Exchange, the use of the yuan has grown nine-fold compared to the 2013 year. The list of Chinese and Russian commercial banks on the application of calculation in the national currencies of the two countries is expanding substantially.
About 100 Russian commercial banks open their correspondent accounts for the calculation in yuan and rubles. Also expanding the list of Russian commercial banks, where they open accounts in RMB for ordinary depositors.
“The use and application of the national currencies of China and Russia are important not only for bilateral relations, but also in the world market,” Ji said.
According to Ji, the quality of bilateral trade in Sino-Russian trade relations is more important than the volume of trade.
According to the Deputy Director of the Department of Europe and Central Asia of the Ministry of Foreign Affairs of the PRC, Gui Tsunyu, China and Russia need to develop cooperation in all areas, including