Increasing Trade Between China-Russia: 'Companies Are Selling...What They Can't Sell In China Or The West'

Chinese firms are aiding Russia’s economy and military capabilities through increasing trade. This includes trading goods used on the Ukrainian battlefield.

Recent data from August 2023 shows the continued import of military gear from China to Russia, giving a lifeline to President Vladimir Putin’s ongoing war and creating a profitable path for Chinese companies, according to CNBC analysis. Undocumented Chinese exports with potential military applications, such as vehicles and construction equipment, are also bolstering Russia’s war efforts, analysts have revealed.

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“The Chinese authorities are aware of the trade flows,” said Mark Cancian, senior advisor at the Center for Strategic and International Studies.

Analyst Antonia Hmaidi from the Mercator Institute for China Studies noted, “Chinese companies are selling to Russia what they maybe can’t sell in China or the West at a higher price.”

Despite Beijing’s claim of “normal economic cooperation”, a U.S. intelligence report reveals China’s crucial role in Russia’s war effort, including the provision of key technology and dual-use equipment. Examples include navigation equipment and jet parts.

China now makes up nearly half of Russia’s imports, up from a quarter before the war, according to the Bank of Finland’s Institute for Emerging Economies. In 2022, Chinese firms sold over $500 million worth of semiconductors to Russia, and $12 million worth of drones in the year to March 2023.

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