China's economic influence on Russia is growing

At the regional conference held in China, Russian and Chinese companies concluded new contracts in various fields, from e-commerce to agriculture.
Russian and Chinese companies signed a number of agreements on economic cooperation at a regional conference held in northeastern China. This was reported by Reuters on Monday, October 23, citing Chinese state media.

The conference was held in Shenyang, the capital of Liaoning Province. About 800 local Chinese companies took part in it, for which the Russian market is of interest. The signed contracts covered areas ranging from manufacturing and logistics to e-commerce and agriculture.

Earlier, from January to September 2023, 40 Russian companies opened their businesses in Liaoning, the agency reports. During this period, the volume of deliveries from the northeastern province to Russia increased by 82.3 percent and reached 42.64 billion yuan (5.5 billion euros). China is strengthening cooperation with Russia even after the outbreak of a large-scale war in Ukraine in February 2022. Since then, the Liaoning, Heilongjiang and Jilin provinces in northeastern China have been of great strategic importance as a trade area.

Last week, Chinese President Xi Jinping welcomed representatives of more than 130 countries on the occasion of the tenth anniversary of the "New Silk Road" initiative. It was attended by many heads of state and government of economically developing countries, including Russian President Vladimir Putin. Critics say the terms of the trade deal will further strengthen the influence of the world's second-largest country.

Source: Kun.uz