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The partnership between China and Russia is going through its best phase at the moment and its effect is visible in the markets of China. The outside of the shops in China is decorated in white, blue and red, with Chinese and Russian flags hanging together from the ceiling. Inside, the shelves are full of Russian goods, ranging from chocolates and cookies to honey and vodka.
Pop-up stores dealing in Russian-made goods have been opening very fast in China in recent times. Their proliferation has puzzled some residents, with many on Chinese social media questioning how these stores opened overnight.
Trade relations between Beijing and Moscow have increased since Vladimir Putin launched an invasion of Ukraine in 2022. China is currently Russia’s largest trade partner and trade between the two countries was recorded at $190 billion in 2022 after the Ukraine war began. Since then it has been growing continuously.
China gave life to Russian goods
Due to US sanctions, China has become an important economic lifeline for Russian goods. China is buying goods from Russia on a large scale by bypassing the sanctions. Apart from cheap Russian oil, gas and coal, China is also buying ice cream, sweet biscuits and milk powder etc. from Russia. Which shows that the general public of Russia is also liking Chinese goods very much.
To take advantage of this preference of the Chinese, thousands of such stores have been opened across the country, which deal in Russian products.
Chinese companies are taking advantage
According to China’s business records, more than 2,500 new companies have been registered to do business in Russian products in the last three years, out of which about half of the companies were registered only last year. One of the reasons for the increasing demand for Russian goods is that it is cheap and good. Some reports claimed that apart from the barter system, Russia and China are also trading in crypto.
