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China has a good opportunity to get access to the Russian economy
Russia can open the door for Chinese money, as US and European sanctions threaten to lead the country's economy to recession.
Such a move would mean the abolition of informal restrictions on Chinese investment, as Russia seeks to stimulate economic growth, Bloomberg reports citing anonymous sources in the Russian government.
It is planned to attract funds from the second largest economy of the world for the development of industry, the construction of infrastructure, etc.
At the same time, access will not be open to all sectors: enterprises and sectors related to the mining of gold, platinum, diamonds, and high-tech projects will remain closed, reports Bloomberg.
Last month, the International Monetary Fund announced that Russia was already in a technical recession and cut its growth forecast to 0,2% in the current year.
Russia has consistently strengthened trade ties with China, including entering into long-term oil deals worth hundreds of billions of dollars, and plans to supply more energy to consumers in Asia, as the European economy slows down.
China in 2012 became the largest trading partner of Russia with a turnover of $ 95,6 billion.
At the same time, China now has a relatively small number of large projects in Russia. The government may also consider locating Chinese citizens in the country in such a way as to avoid inter-ethnic tensions, Bloomberg sources say.
Also, the decision of the Russian authorities may give China a good opportunity to gain access to the Russian economy. Of particular interest may be projects related to iron ores and coal, such as the Elga coal deposit in Yakutia, developed by Mechel, and the Timir iron ore asset, owned by OJSC ALROSA.