Abstract
Objective. Development Trend of Sino-Russian Economic Cooperation Under the Background of COVID-19 Epidemic. Мethod. This paper uses interdisciplinary research methods and comparative research methods. Results. In 2019, the trade volume between the two countries exceeded $110 billion for the first time. China is Russia’s largest trading partner, while Russia is China’s 10th largest trading partner. In recent years, the trade quota has grown strongly, and the potential for cooperation between the two sides is huge. Energy machinery and electricity are dominant, and the trade structure tends to be stable. Agricultural cooperation goes deep and practical, and effectively responds to challenges and risks. Service trade has been accelerated and the economic and trade fields have been continuously expanded. Solidly promote the construction of large projects and lay a solid foundation to help development. Sign the future cooperation plan to ensure the practical advancement of the project. Conclusions. With the impact of the COVID-19 epidemic, Sino-Russian trade in the first half of 2020 was $49.2 billion, down 4.3% year-on-year, but in July the bilateral trade resumed its rapid growth momentum. In July 2020, China-Russia trade volume was $9.7 billion, an increase of 5.4% year-on-year. Cross-border E-commerce trade has developed rapidly. Agricultural product trade has become a new bright spot in bilateral trade.
Highlights
Since 2018, the world political situation has been ups and downs, and international economic and trade relations have changed dramatically
A major breakthrough has been made in economic cooperation with Russia
With China’s economy taking the lead in responding, the COVID-19 epidemic in Russia has not been effectively controlled, and the Russian economy will fall sharply, which will further affect the growth of Sino-Russian trade, especially the import from China
Summary
Since 2018, the world political situation has been ups and downs, and international economic and trade relations have changed dramatically. Under this background, Sino-Russian economic cooperation has made rapid progress, bilateral trade has been expanding, trade structure has been improving, and important areas of cooperation have been deepening. In terms of trade proportion, especially the proportion of China’s exports to Russia to Russia’s imports, Chinese goods have accounted for more than 1/5 of Russia’s imports, and the space for development is limited, which indicates that it is possible to get twice the result with half the effort by relying solely on bilateral trade. On June 5, 2019, Chinese President Xi Jinping pointed out during his talks with Rus-
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