According to Chinese customs, in the first half of the year the trade turnover of Russia and China increased by 29% compared to last year’s figures from the same period. This was primarily due to the growth of Chinese imports from Russia (almost 1.5 times growth was recorded, primarily due galloping energy prices).
At the same time, Chinese exports grew by only 5% in annual terms.
It is too early to draw conclusions about Sino-Russian trade, economist, associate professor of RANEPA Sergey Khestanov believes.
“Exports to China have grown rapidly simply because the subject of exports are raw materials… Chinese imports, in their turn, are complex and require adaptation to their consumption. In addition, the Chinese side is very cautious, not wanting to provoke secondary sanctions against its business,” the expert emphasizes. – At the same time, if mutual trade will be very unsymmetrical, the question will arise about how (and in what form) the accumulation of international reserves shoud take place.”