The Main Directions of Trade and Economic Cooperation between Russia and China in the implementation of the Belt and Road Initiative

Abstract

This paper presents an analysis of official statistical information on Chinese investment transactions in Russia as part of the "One Belt — One Road" initiative. The analysis presented in this work allowed to identify the following patterns: 1. It has been proven that mutual trade between Russia and China for 2010–2023 Characterized by structural changes. 2. It has been established that Russian exports to China for the period 2010–2023. Increased signifi cantly, including in terms of product groups. 3. It is substantiated that China exports electronic technologies and machinery equipment to Russia in significant volumes, namely: for 30 billion US dollars in 2023, which is three times higher than in 2010, when the amount was 11 billion US dollars. In turn, the export of Russian machinery to China suff ered a sharp drop from 2022 to 2023 by 37 %, which is associated with Western sanctions. 4. It was revealed that mutual trade between Russia and China in the period from 2010 to 2023 was characterized by stability in the main groups of goods, and the leading group of goods exported from China to Russia was machinery (from 40 to 45 % of the total volume). In addition, freight (transportation) and other goods such as textiles, chemicals, metals, plastics and rubber, footwear and headwear also had a signifi cant importance in trade (3 to 8 %). 5. It has been established that energy resources and infrastructure projects play a key role in trade between Russia and China. Russia is a major supplier of energy resources to China, and joint infrastructure projects such as the Eastern Oil Pipeline and the Siberian-West Gas Pipeline demonstrate the strategic partnership in energy and transport between the two countries.