Chino-Russian economic partnership

China and Russia are strengthening their strategic partnership to counter U.S. sanctions and balance NATO’s actions in the region. On 16 May 2024, the leaders of both countries expressed their determination to deepen military, economic and technological cooperation. 

An analysis of the documents shows that China is a strategic competitor of the US. India is a defence partner. These geopolitical dynamics can affect the direction of international business.

With the deepening co-operation between Russia and China in high technology and innovation, there are new prospects and opportunities for business development between the two countries. The partnership between Russia and China creates a favourable environment for joint research, development of new products and services, and exchange of experience and technology. By strengthening co-operation, Russian and Chinese companies can expand their business boundaries and strengthen their positions in global markets.

Joint projects in the field of high technologies can become a key factor for successful competitive business development in both Russia and China. Interaction between Russian and Chinese companies can contribute not only to increased trade and investment, but also to the development of innovative solutions that will have the potential for global recognition. Russian-Chinese co-operation in high-tech business opens new horizons for creating productive partnerships and mutual understanding in the international arena.

The impending increase in tariffs on various Chinese goods such as electric vehicles, solar panels, semiconductors and batteries, starting from 14 May 2024, was announced. These measures are widely believed to be aimed at supporting domestic industry. In response to growing trade relations between China and Russia, sanctions may be imposed on Chinese banks, denying them access to the dollar-based international financial system.

The ongoing development of the so-called “borderless partnership” between the countries helps to mitigate the effects of possible restrictions and create a favourable atmosphere for business development. This partnership helps strengthen economic ties between Russia and China and reduce geopolitical tensions.