2 September 2021
KEY CONCLUSIONS
The pandemic did not have a major impact on the strong Russian-Chinese trade and economic ties
“The volume of trade between China and Russia’s Far Eastern Federal District increased by 3.3% [in 2020] to USD 10.8 billion, which suggests that even during the pandemic, the foundation of the long-term partnership between the Far East and China maintained positive dynamics of cooperation,” Rusagro Group Chairman of the Board of Directors Vadim Moshkovich said.
“Last year, trade turnover between our countries increased, and over the next ten years, China will be Russia’s largest foreign trade partner,” Elus Union of Chinese Entrepreneurs President Zhou Liqun said.
“China attaches great importance to this Forum’s role as a bridge throughout the region, and is ready to work with the Russian Federation to develop cooperation throughout the Russian-Chinese Far East in order to promote the restoration of the regional economy, the sustainable development of the region, and the recovery from the pandemic,” Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China in the Russian Federation Zhang Hanhui said.
“During the epidemic, our [trade] volume decreased for a little while, but we see that our position is gradually recovering,” KitayStroy General Director Lu Hao said.
PROBLEMS
The dynamics of Russian-Chinese trade and economic cooperation declined during the pandemic
"In 2020, trade between Russia and China amounted to more than USD 107 billion, a decrease of 2.9%,” Rusagro Group Chairman of the Board of Directors Vadim Moshkovich said.
“At present, of course, the COVID-19 epidemic is having a huge impact on all countries around the world. This is causing increased trade protectionism and disrupting economic integration between countries,” China Chengtong Holdings Group Ltd Chairman of the Board of Directors Zhu Bixin said.
Laws governing Russian-Chinese trade and economic relations need to be revised
“One of the main problems that we are encountering today is the need to synchronize phytosanitary, above all, and veterinary regulation between the People’s Republic of China and the Russian Federation because the requirements for the supply of various types of food to the People’s Republic of China are stringent. They differ from the requirements that we have now in the Russian Federation, and we would like to be able to synchronize these requirements with our colleagues,” Legendagro Primorye General Director Dmitry Savenkov said.
“Russian-Chinese companies believe that the main challenges in bilateral cooperation are legal problems – above all licensing and the protection of intellectual property rights. These include financial aspects, such as the organization of remittances and repatriation of profits [return of profits on foreign investments in the country of origin for further investment], the structuring of projects in the appropriate legal framework, and issues related to marketing and consumer behaviour in Russia and on the Chinese market,” Moscow School of Management SKOLKOVO President Andrey Sharonov said.
SOLUTIONS
Search for and work out new solutions to realize the potential of Russian-Chinese interaction
“There is obviously much greater potential [for cooperation], and in the new realities we need to develop approaches for its realization […] The agricultural sector and the development of the agro-industrial complex is one of the key areas of cooperation between Russia and China in the Far East [...] I am certain that agriculture could make a significant contribution based on the government’s plans to double the volume of trade by 2024,” Rusagro Group Chairman of the Board of Directors Vadim Moshkovich said.
“The situation with COVID has altered our work somewhat, but it has not stopped it. We have more online courses and, in particular, the ‘Pivot to the East’ course – a four-week intensive, online course – is popular, and soon, on 20 September, we will already be launching the second group,” Moscow School of Management SKOLKOVO President Andrey Sharonov said.
Support and strengthen existing areas of Russian-Chinese cooperation, particularly in the energy sector
“Our countries, both being major global energy consumers and energy producers, have important advantages and excellent prospects for cooperation […] We believe that under the leadership of the heads of our countries, we will be able to achieve great success in energy cooperation,” Branch of Sinopec Overseas Oil and Gas Ltd General Director Yang Huaiyi said.
"We must continue to develop cooperation of mutually beneficial economic ties [...] Energy cooperation has always been a significant – and the most important – part of our cooperation,” Energy Industry Corporation Chairman of the Management Committee Yihe Chen said.
“The Chinese market is very large. In order to form a solid foundation for the Chinese food industry, today we can gradually provide for more and more of its needs, primarily in the manufacturing of protein products, and not GMO soybeans or GMO corn,” Legendagro Primorye General Director Dmitry Savenkov said.
Attract foreign residents to the Free Port of Vladivostok and the advanced special economic zones that have been created in the Far East
“In the preferential regimes of the advanced special economic zones and the Free Port of Vladivostok, 58 investment projects with the participation of Chinese investors are at various stages of development and implementation with a potential investment volume of USD 11.6 billion […] I believe that there should be more such large-scale Russian-Chinese investment projects in the Far East. In addition, we are pleased to invite Chinese business communities to cooperate in the Arctic zone of the Russian Federation,” Minister for the Development of the Russian Far East and Arctic Alexei Chekunkov said.
“Our company plans to create a subsidiary resident company in an advanced special economic zone in the Russian Federation. We will have our logistics hub here and will contribute to the development of the Far East,” MCC International Corporation Chairman of the Board of Directors Yang Ruobing said.
“The mechanism for the development of the Far East is constantly being optimized, and the policy of benefits and incentives for investments is also taking on a more complete vector, in particular, the creation of the Free Port of Vladivostok and a free economic zone [...] China is ready to incentivize any enterprises that can invest in the Far East, expand cooperation in the processing and manufacturing sectors, the joint extraction of resources, and the production of various chemicals as well as in the development of infrastructure, agriculture, forestry, transport, and customs logistics,” Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China in the Russian Federation Zhang Hanhui said.
27 February 2024
Russia and Bahrain Look to Intensify Cultural and Humanitarian Cooperation
Advisor to the Russian President Anton Kobyakov held a meeting in Moscow with Ambassador Extraordinary and Plenipotentiary of the Kingdom of Bahrain to the Russian Federation Ahmed Al-Saati, during which the two officials discussed a wide range of issues concerning economic, cultural, and humanitarian cooperation between the two countries and reached a number of agreements.
05 March 2024
Mutual integration: Chinese entrepreneurs want to develop business in Russia
Anton Kobyakov, Adviser to the President of the Russian Federation, and Zhou Liqun, Chairman of the Chinese Entrepreneurs Union in Russia, met in Moscow.
07 March 2024
Moscow discussed promoting the potential of the Republic of Kalmykia for its development
A meeting between Anton Kobyakov, Adviser to the President of the Russian Federation, and Batu Khasikov, Head of the Republic of Kalmykia, was held in Moscow to discuss the implementation of a number of key projects and programmes designed to create a long-term basis for the structural development of the economy of the Republic of Kalmykia and the Caspian region.
