Gao Feng, a spokesperson for the Ministry of Commerce, said on the 28th that the trade volume of Sino-Russian agricultural products reached a record high of US$5.55 billion in 2020, of which China’s imports were US$4.09 billion, an increase of 13.7%. China has become the largest export market for Russian agricultural products and meat.
Gao Feng said at a regular online press conference held by the Ministry of Commerce that day, according to Chinese statistics, the bilateral trade volume between China and Russia in 2020 was US$107.77 billion, a slight dro of 2.9% year-on-year, and it exceeded the US$100 billion mark for three consecutive years. China has been Russia's largest trading partner country for 11 consecutive years, and Russia is China's tenth largest trading partner.
Gao Feng said that since the second half of last year, bilateral trade has gradually recovered. China's exports to Russia have "turned from negative to positive" and have been growing positively for six consecutive months, with an average monthly increase of more than 7% in the second half of the year. In addition, imports of bulk commodities such as oil, gas, and iron ore from Russia have increased significantly. The "home economy" drove the rapid growth of exports of electronic products to Russia. The export of notebook computers and tablet computers increased by 39% and 29% respectively. Chinese branded smartphones jumped to the top of the Russian market.
Gao Feng said that in the next step, China will work with Russia to further strengthen anti-epidemic cooperation, actively expand bilateral trade, promote the development of new business formats and new models such as cross-border e-commerce, expand two-way investment and cooperation in strategic large projects, and create technological innovation. New growth points for cooperation.
(Source: People's Daily Online)
