Chinese imports to Russia since the beginning of the year have decreased by at least 23%. Information about this was published in his report by the European Central Bank.
The organization analyzed all the trade statistics. It is noted that data may be incomplete due to the Russian authorities. After the start of the war in Ukraine, they classified customs statistics.
Previously, a strong increase in energy supplies to China was noted. However, due to European sanctions, trade relations between countries are under strong pressure. China does not risk violating prohibitions imposed by Europe. Beijing fears secondary sanctions. For this reason, several Chinese brands left Russia, and some projects were frozen.
However, there are spheres in which China has activated. One of them is a car market where brands from the Middle Kingdom are actively capturing the territory. The joint logistics and supply of energy resources is also developing.