On May 28, an online meeting between Minister Plenipotentiary , Advisor on Trade and Economic Affairs of Chinese Embassy to the Russian Federation, Mr. Li Jingyuan and Russian business circles took place. The event was dedicated to the development of trade and interregional cooperation between the Russian Federation and China during pandemic. The speakers also discussed the problems and barriers that hinder the trade increase between the two countries. The meeting was moderated by Boris Levchenko, Director of the “Representative Office of the Ulyanovsk Region under the Government of the Russian Federation”.
In the report, Mr. Li Jingyuan told about the support measures for business in China implemented by the State Council, namely, extending loan repayment terms, lowering the threshold for loans, and supporting scientific and technological production. The plenipotentiary minister also mentioned statistics on the economic recovery in China and trade:
“Now, industrial indicators have recovered by 98%, and China's foreign trade indicators have fallen by 4.9%. At the same time, Russian-Chinese trade turnover in January-April grew to $ 33.56 billion by 0.1%, but imports decreased by 9.1% and Russian exports grew by 7.1%, ” the minister concluded. Li Jingyuan also thanked Russia for the support provided to China at the height of the pandemic. It is worth noting that China also helped our state, and delivered 23 tons of humanitarian aid and also sent virologists to study Covid-19 in Russia.
Xu Jinli, the head of the representative office of the China Committee for the Promotion of International Trade, said that during the pandemic, the committee issued for the 412 companies that have contracts with the Russian side 550 certificates of force majeure worth $ 4.003 billion for textile industry, mechanical and electrical equipment, shipping, wholesale and retail trade, leasing and service business, financial and others. The head of the committee also said that online events organized by both the Russian and Chinese sides can solve existing trade problems and strengthen cooperation between our countries.
Maxim Kuznetsov, vice president of the Russian-Asian Union of Industrialists and Entrepreneurs, noted that despite a number of economic difficulties caused by the pandemic, trade with the PRC remains a priority for the Russian Federation. The speaker noted examples of implemented anti-crisis initiatives of the RAUIE, which include extension of visas to Chinese citizens in the Russian Federation, personal income tax refunds to self-employed and direct payments to the population. Maxim Kuznetsov noted that over 2 months of self-isolation, the RAUIE has been heldong import and export events in China:
“We help promote Chinese exhibitions and attract Russian buyers, in particular, on June 10, we, as official representatives of the Canton Fair in Russia, will organize a session for online-exhibition participants. We also help Russian exporters participate in exhibitions and business missions, find partners in China, conduct marketing research and check counterparties. These services have become in high demand in the face of existing restrictions. ”
