China expects early achievement of the goal of $200 billion in trade with Russia

The trade turnover between Russia and China will reach the goal of 200 billion ahead of schedule, said Chinese Ambassador to Russia Zhang Hanhui.

“We expect the $200 billion target [в товарообороте]set by the heads of the two states will be reached ahead of schedule,” leads his words TASS.

In March, Russian President Vladimir Putin informedthat in 2022 the trade turnover between Russia and China reached a historical record of $185 billion. surpass this milestone,” he said.

According to the results of the first half of the year, the trade turnover between Russia and China increased by 40% in annual terms, amounting to $114.54 billion, Vedomosti wrote, citing data from the General Customs Administration (GTU) of the PRC. According to them, Chinese exports to Russia increased by 78.1% and amounted to $52.284 billion, and Russian exports to China increased by 19.4% to $62.263 billion.

At the same time, the total volume of China’s foreign trade in the first half of 2023 decreased by 4.7% compared to the same period a year earlier to $2.918 trillion. Exports fell to $1.663 trillion – by 3.2%, while imports fell to $1.255 trillion (-6.7%). The leaders in trade with China in the first half of 2023 were ASEAN, the European Union and the United States. At the same time, China’s trade turnover with the EU amounted to $399.172 billion, with ASEAN – $447.326 billion, and with the United States – $327.264 billion.