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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Politics

Politics

In northeast China, Russian and Chinese firms ink deals from manufacturing to agriculture

Russian President Vladimir Putin and Chinese President Xi Jinping attend a reception at the Kremlin ... Russian President Vladimir Putin and Chinese President Xi Jinping attend a reception at the Kremlin in Moscow, Russia March 21, 2023. Sputnik/Pavel Byrkin/Kremlin via REUTERS /File Photo
Russian President Vladimir Putin and Chinese President Xi Jinping attend a reception at the Kremlin ... Russian President Vladimir Putin and Chinese President Xi Jinping attend a reception at the Kremlin in Moscow, Russia March 21, 2023. Sputnik/Pavel Byrkin/Kremlin via REUTERS /File Photo

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Chinese state media said on Monday that Chinese and Russian businesses attending a regional conference in northeastern China inked several cooperation agreements in industries ranging from manufacturing and logistics to e-commerce and agriculture.

Following their meeting in Beijing last week, Chinese President Xi Jinping and Russian President Vladimir Putin held the conference in Shenyang, the provincial capital of Liaoning. Nearly 800 Chinese businesses aiming to sell their products in Russia, local government leaders from Russia, and business representatives attended the conference.

After Russian forces invaded Ukraine last year, China has pushed for increased cross-border connectivity and deeper economic cooperation despite opposition from the West, with northeast China, which includes the provinces of Liaoning, Heilongjiang, and Jilin, gaining new strategic significance as a hub of bilateral trade and commerce.

According to a Monday report from China’s official television, 40 Russian companies established operations in Liaoning between January and September. Liaoning’s exports to Russia increased by 82.3% in the first nine months compared to last year, reaching 42.64 billion yuan ($5.83 billion).

A train carrying 55 containers left for Russia to commemorate the opening of a new cargo hub for China-Europe freight trains in Shenyang in March. Chinese customs announced in May that the landlocked province of Jilin could ship goods to Zhoushan and Jiaxing in the eastern Chinese province of Zhejiang using Vladivostok, the largest port in the Russian Far East, beginning in June. This would reduce costs and travel time for Jilin cargo headed for eastern China.

In September, Xi said Heilongjiang should become a “pivotal” entryway for China’s opening up in the north and actively participate in preserving the security of the country’s food, energy, and defense systems.

According to figures released by the Chinese General Administration of Customs earlier this month, bilateral commerce between China and Russia increased to $21.18 billion in September, reaching its highest level since February 2022, when Russia started the conflict in Ukraine.


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