Among foreign participants in Russian business, China took the lead, surpassing entrepreneurs from the Republic of Belarus by a third.
The number of companies registered in Russia with co-owners from China has grown by 32% since the beginning of 2024, while the share of Chinese business in the total number of new company registrations has grown from 13% in 2021 to 34% in 2024. The Russian media reports about it.
Every month, about 200 companies with owners from China are registered in Russia, which is four times higher than in 2021.
Among foreign participants in Russian business, China took the lead, surpassing entrepreneurs from the Republic of Belarus by a third.
In 2021 – 2023, the income of Russian companies with the participation of entrepreneurs from China will almost triple. In the motor vehicle trade sector during the specified period, this number increased 5.1 times, providing 43% of the total income of Chinese business in Russia.
While wholesale trade accounted for 26% of revenue, despite the fact that 38% of all enterprises with Chinese participation operate in the sector.
In addition, trade in consumer goods is growing (food – 2.7 times, light industrial products – 2.1 times; weight – 11%).
It was noted that the income of Russian companies with Chinese participation in the manufacturing industry grew more slowly (over the year – 2.7 times), the share of processing in the total income fell from 20% to 18%. The leaders are the automotive industry (its share in processing increased from 46% to 73%), metallurgy (its share decreased from 17% to 7%) and woodworking (declining from 9% to 3%).
We remind you that one of the largest state-owned banks in China, the Bank of China, stopped cooperating with the Moscow Exchange after it was subjected to US sanctions.
It was also found that the average price of a new Chinese car in Russia reached 3.06 million rubles ($32,000). In the first three months of 2024, prices rose 9.3% year-on-year, exceeding the official inflation rate of 7.2%.
As reported, sales of Chinese cars in Russia have reached their peak. The Russian Federation has become China’s largest export market for cars.
Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.