Russian President Vladimir Putin signs a pipe during the ceremony marking the construction of gas pipeline " Power of Siberia" connecting Russia and China, September 2014. Credit: Alexei Nikolsky, Presidential Press Service/AP Photo
Western nations have imposed an avalanche of sanctions on Russia after its invasion of Ukraine, with devastating effects for its economy. China, however, has declined to impose any penalties, after Presidents Xi and Putin had pledged in a meeting early last month that there were “no limits” to their cooperation.
But as international markets digest the new restrictions imposed on the Russian economy, there are signs that even China will struggle to maintain its burgeoning bilateral trade as before.
This week, The Wire sets out the key facts in the China-Russia economic relationship.
Where Russia and China Rank as Trade Partners
China has been Russia’s single biggest trading partner for 12 consecutive years. Meanwhile, Russia is China’s 11th biggest trading partner, just behind Malaysia and Brazil and ahead of Thailand and India.
Data: China General Administration of Customs, ITC Trade Map
China-Russia Total Trade by Year
Trade in goods and servic
Exclusive longform investigative journalism, Q&As, news and analysis, and data on Chinese business elites and corporations. We publish China scoops you won't find anywhere else.
A weekly curated reading list on China from David Barboza, Pulitzer Prize-winning former Shanghai correspondent for The New York Times.
A daily roundup of China finance, business and economics headlines.
We offer discounts for groups, institutions and students. Go to our Subscriptions page for details.
Why is one of Taiwan's largest media groups — Want Want China Times Media Group — spreading anti-U.S. rhetoric? Largely because its billionaire owner, Tsai Eng-meng, is known to sympathize with the Chinese Communist Party and favors unification with the mainland. Now, with Taiwan gearing up for a critical presidential election, Want Want’s efforts are picking up and helping to normalize CCP talking points.
A look at ZPMC: how it came to dominate ports around the world; its role in Chinese foreign policy; and the consequences of its links to the Chinese state.
The author and academic talks about how trade has actually changed over the last 40 years; why China's rise is linked to Asia's regionalization; and why international supply chains are efficient and resilient.