The Electromechanical Industry Will Drive The Bilateral Trade Volume Between China And Russia To Rise Further

- Oct 19, 2018-

The electromechanical industry will drive the bilateral trade volume between China and Russia to rise further

According to the statistics of the China-Russia Electromechanical Chamber of Commerce, in the first five months of this year, China exported 9.28 billion US dollars of mechanical and electrical products to Russia, a year-on-year increase of 5.6%. The Chinese side imported 220 million US dollars of mechanical and electrical products from Russia in the same period, a year-on-year increase of 94.8%. In the Chinese market, the demand for Russian superior mechanical and electrical products such as helicopters, metal stamping equipment and nuclear power units has shown a significant growth trend. Experts believe that the electromechanical industry will play an important role in driving bilateral trade volume further and improving cooperation.

The China-Russia Electromechanical Chamber of Commerce was held on July 1st during the first China-Russia Expo. More than 200 representatives from both member companies participated in the conference, including automobile, shipbuilding, aviation, aerospace, electric power, petrochemical, metallurgy, engineering machinery, home appliances, electronics, engineering contracting and other fields.

Sun Wei, deputy governor of Heilongjiang Province, said that he will promote the connection between the Russian “parent factory” of the former Soviet Union's 156 aid projects in China and the “sub-factory” of China. Heilongjiang Province is willing to become a platform for cooperation between various mechanical and electrical enterprises of the two countries.

In addition, in order to further promote all-round exchanges and cooperation between China and Russia, the China-Russia University Presidents Forum opened in Harbin on July 2, and the heads of more than 30 universities from both countries revolved around the elites who need to adapt to the comprehensive strategic cooperation between China and Russia. Cultivate the topic for discussion.

As an important activity in building Sino-Russian economic and trade cooperation, the Russian Regional Promotion Day has been held for more than 20 years. During the first Sino-Russian Expo, hundreds of companies from both countries participated in the event.

Heilongjiang Governor Lu Hao said at the China-Russia Expo China Day Promotion Day that China and Russia are not familiar with policies, regulations and business models, and there are still investment barriers. However, the "Regional Day" activities held by China and Russia are to clarify these policies and regulations. Good opportunity.

Acting Governor of Russia's Primorsky Territory, Fu-Fu-Mikrushevski, said that in 2013, investment in China from the region more than tripled. Currently, China's investment is US$72.5 million, with more than 300 Chinese investment companies. About half of the foreign investment enterprises in the Primorsky Territory.

As an important opportunity to enhance understanding, he believes that this Expo will become a real leap in strengthening mutually beneficial cooperation in the investment field. "We should take advantage of such opportunities to solve the problems facing our regional development and enhance economic ties."

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