ARKANSAS, Oct 24 (Future Headlines)- Chinese and Russian companies have convened at a regional conference in northeastern China and signed numerous cooperation agreements across a wide array of sectors, including manufacturing, logistics, e-commerce, and agriculture. This event, held in Shenyang, the capital of Liaoning province, follows a recent meeting between Russian President Vladimir Putin and China’s President Xi Jinping in Beijing. The gathering included Russian local government officials, business representatives, and nearly 800 Chinese companies looking to expand their presence in the Russian market.
China is actively advocating for enhanced cross-border connectivity with Russia and deeper economic collaboration. This effort has gained strategic significance in light of geopolitical tensions following Russia’s invasion of Ukraine last year. Northeast China, encompassing the provinces of Liaoning, Heilongjiang, and Jilin, is evolving into a pivotal zone for bilateral trade and commerce.
Between January and September, 40 Russian firms established operations in Liaoning, as reported by China’s national broadcaster. The province of Liaoning witnessed an impressive 82.3% increase in outbound shipments to Russia during the first nine months, reaching 42.64 billion yuan ($5.83 billion).
In March, a new cargo hub for China-Europe freight trains commenced operations in Shenyang. The hub’s inauguration was marked by a train carrying 55 containers destined for Russia. It highlights the growing importance of this region for international trade.
Moreover, in May, Chinese customs authorities announced that the landlocked province of Jilin would have access to Vladivostok, the largest port in the Russian Far East. This development facilitates the shipment of goods from Jilin to the Chinese provinces of Zhoushan and Jiaxing, located in Zhejiang in the east of the country. It is expected to reduce costs and transportation times for cargo from Jilin to eastern China.
President Xi has also underscored the role of Heilongjiang, highlighting its significance as a “pivotal” gateway for China’s northern opening up. He emphasized that the province should actively contribute to safeguarding national defense, food, and energy security.
Additionally, in September, bilateral trade between Russia and China experienced a surge, reaching $21.18 billion. This marks the highest level since February 2022 when Russia’s military intervention in Ukraine began. Data from the Chinese General Administration of Customs has confirmed this substantial increase in trade.
Overall, the regional conference and the collaboration between Chinese and Russian companies signify the growing importance of economic ties between the two nations, even in the face of global geopolitical challenges. This strategic partnership is playing a vital role in fostering trade, enhancing connectivity, and facilitating shared growth in various sectors.
Editing by Sarah White