China-Russia mechanical and electrical trade recovers to grow in 2015, expected to reach 30 billion U.S. dollars

Electromechanical products currently account for "half of the country" in Sino-Russian bilateral trade. Data from the Chamber of Commerce of Mechanical and Electrical Products show that in 2010, China's exports of mechanical and electrical products to Russia were US$13.51 billion, an increase of 85.1% year-on-year, accounting for 45.6% of the total exports to Russia in the whole year.

In the first two months of this year, the trade volume of China-Russia mechanical and electrical products was US$2.38 billion, a year-on-year increase of 56.7%. Among them, China’s exports to Russia were US$2.33 billion and imports from Russia were US$49.93 million. Both imports and exports increased year-on-year. 56% or more.

Zhang Yujing said that the rapid economic development and strong complementarity between China and Russia have provided broad space for cooperation between enterprises of the two countries.

He analyzed that Russia will host the 2014 Winter Olympics and the 2018 FIFA World Cup. A lot of infrastructure needs to be built. At present, countries around the world are gradually getting out of the haze of the global financial crisis, driving the demand for bulk primary products such as oil and natural gas. The price increase will stimulate Russia's economic development characterized by energy dominance, provide financial guarantee for its domestic infrastructure construction, and also encourage Russian companies to increase investment and expand production. This objectively provides Chinese companies with market opportunities.

As the world's second largest economy, China's vast market also contains a lot of opportunities for Russian companies, Zhang Yujing said. Statistics from the Chamber of Commerce of Electrical and Mechanical Services confirms this judgment. At present, China's imports of high-tech products from Russia continue to grow, showing the vast development space of Russian high-tech products in the Chinese market.