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China’s Commerce Ministry comments on trade development with Russia

May 10, 12:27 UTC+3 MOSCOW

According to China customs, trade turnover between Russia and China surged 27.3% to $31.1 bln in January - April

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MOSCOW, May 10. /TASS/. Improving economic situation in Russia, diversification of a list of Russian goods imported to China, new incentives to stir up mutual trade turnover and growing Chinese investments to Russia are four main drivers of dynamic trade development between the two countries in recent months, official spokesperson of the China’s Commerce Ministry Gao Feng said at a press conference on Thursday.

"According to the analysis completed by the Commerce Ministry of China, recent dynamic growth of Sino-Russian trade is explained by four key factors. Firstly, the economic situation in Russia continues to improve in a sustained way. Secondly, China increased purchases of a wide range of Russian products," the official said. "Thirdly, the number of new positive incentives to boost trade with Russia is growing on a going basis," Gao Feng said.

Further to traditional supplies of energy resources, agricultural products experience stable growth in the structure of Russian exports, the official said. "Fourthly, investments of China into the Russian economy have growth notably," he added.

According to China customs, trade turnover between Russia and China surged 27.3% to $31.1 bln in January - April. Exports of China to Russia rose 21.1% to more than $13.9 bln. Imports of Russian goods and services in China soared 32.8% to $17.1 bln.

It was reported earlier that the trade turnover between China and Russian increased by 20.8% annually to $84.1 bln in 2017.

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