Research on Commodity Trade Relationship Between China and Russia Under the Background of the Belt and Road Initiative

Abstract

With the approach of the Belt and Road Initiative, China-Russia economic and trade cooperation is improving into high-level and high-dimension direction. This paper firstly analyzes the scale and structure of China-Russia trade. Then based on the trade complementarity index and competitive advantage index, this paper analyzes the trade complementarity and competitiveness between China and Russia. In conclusion we find that China and Russia cooperate closely in trade, but with a simple trade structure and low-tech trade products. In addition, the two countries show a high level of complementarity, but a low level of competitiveness, which implies that the two countries do not conflict in advantageous products. For China, it takes competitive advantages in labor-intensive products, and Russia takes competitive advantages in primary products. In terms of the Belt and Road Initiative, it is necessary for China and Russia to optimize the bilateral trade structure and further promote the bilateral economic and trade cooperation.