Analyzing the development of modern bilateral trade between the Russian Federation and the PRC

Abstract

Analysis of the development of trade and economic relations between the People's Republic of China (PRC) and the Russian Federation (RF) is an important aspect of research in the field of international economics and the development of economic relations between these two countries. Since 2022, trade turnover between them has been constantly increasing, setting new historical records. For about 14 years, China has been Russia's largest trading partner in many respects. The purpose of this article is to analyze the development of trade and economic relations between China and Russia over the past few years and identify prospects for future mutually beneficial cooperation. To do this, reports from customs departments of the two countries, expert reviews, and reports from public and private organizations have been used as the main sources of information. These sources provide detailed information on the flow of goods, currency transactions, investment projects, and other important aspects of the trade and economic relationship between the PRC (China) and Russia. Analysis of these sources revealed several key trends and factors affecting the development and prospects for mutual relations between the two countries. An increase in trade turnover was observed, as was an increase in China's share in Russian trade. Additionally, there was a diversification of the commodity structure and a deepening of investment cooperation. Problems faced by the two nations in the process of establishing economic ties were identified, along with their possible solutions. Based on this analysis, conclusions were drawn regarding the possible future evolution and prospects for mutually beneficial cooperation between China and the Russian Federation over the coming years.