Trade turnover between China and Russia grew by 29% in the first half of the year

The trade turnover between Russia and China in January-July 2022 grew by 29% year on year, to $97.7 billion, reports TASS with reference to the General Administration of Customs of the People’s Republic of China.

China’s exports to Russia over the same period increased by 5.2%, to $36.3 billion. Russia’s imports to China increased by 48.8% (to $61.45 billion). The Russian and Chinese authorities agreed to increase the volume of bilateral trade to $200 billion a year. At the end of 2021, the volume of such trade amounted to $146.9 billion.

Earlier, China has repeatedly criticized the United States for imposing sanctions against Russia due to a special operation in Ukraine. China’s Ministry of Commerce spokesman Gao Feng said that US sanctions will not help resolve the security problem, but they can have a very negative impact on consumers and lead to a serious crisis in global trade and the economy, finance, energy, food supply chains, industry, etc. d.

In July, the Hong Kong newspaper South China Morning Post (SCMP), which has senior sources in Beijing, reportedthat German Chancellor Olaf Scholz, French President Emmanuel Macron, Italian Prime Minister Mario Draghi and his Spanish counterpart Pedro Sanchez were invited to Beijing for talks, but ignored the proposal. Beijing does not officially confirm this information, and European capitals do not comment.