The report from the Council of Chinese Entrepreneurs shows that despite the decline in external demand for Chinese products, Russia remains an important economic partner of China. This report emphasizes that cooperation between China and Russia is showing a very positive trend, which is in sharp contrast to the deteriorating external environment in China and the decreasing external demand for Chinese products. The report points out that in 2023, bilateral trade grew by 26.3%, reaching $240 billion. Russia is not only the fastest growing trading partner of China, but also the only country with a significant increase in the import volume of Chinese products. This indicates the important position of Russia in China's foreign trade.

Specifically, China's exports to Russia increased by 46.9%, which is a very significant growth. Meanwhile, apart from Russia, India is the only major country for China's supply growth in 2023, with a growth rate of 0.8%. The trade volume with the United States decreased by 11.6%, and the trade volume with the European Union also decreased by 7.1%. These data further highlight Russia's relative advantage in China's foreign trade.

The author of the report by the Russia China Business Council believes that Russia is not only China's most important military and political partner, but also a very important partner in the economic aspect. As the Chinese government's attention to strengthening its economic presence in Russia continues to rise, it can be expected that economic cooperation between China and Russia will continue to strengthen.

In summary, despite facing some external challenges and pressures, the economic cooperation between China and Russia has shown a very positive trend. This cooperation has not only achieved significant results in trade, but also has the potential to be further strengthened in the future. This indicates that cooperation between China and Russia in the economic field has broad development prospects and potential.Editor/Cheng Liting