Hardware and electromechanics become China's largest export category to Russia

At present, the Russian market has significantly improved its position in the Chinese mechanical and electrical industry. Mechanical and electrical products have become China's largest export category to Russia. Sino-Russian mechanical and electrical product trade increased from 2.66 billion U.S. dollars in 2001 to 15.13 billion U.S. dollars in 2008; affected by the financial crisis, it dropped to 7.73 billion U.S. dollars in 2009.

The author learned from the China-Russia Electromechanical Industry Cooperation and Development Forum held on January 19th that the scale of Sino-Russian bilateral electromechanical products trade has gradually expanded, the bilateral trade structure has been optimized, and the scientific and technological content of bilateral cooperation has been effectively enhanced. In the first 11 months of 2010, China-Russia bilateral machinery and electronic products trade volume reached 12.6 billion U.S. dollars, an increase of 84.7% year-on-year. It is estimated that the annual trade volume of mechanical and electrical products will reach 14 billion U.S. dollars.

Vice Minister of Commerce Jiang Yaoping said at the forum that Sino-Russian electromechanical industry cooperation involves various key areas such as economy and trade, military industry, science and technology, energy, transportation, nuclear energy, aerospace, aviation, and information technology of the two countries, and is driving bilateral trade development. Expanding the scale of investment and promoting economic and technological cooperation have played an important role. At the same time, the Chinese and Russian governments and enterprises have steadily promoted cooperation in nuclear power, aerospace, communications, electric power, automobiles, infrastructure, energy conservation and environmental protection projects. A large number of large- and medium-sized cooperation projects have been launched one after another.

Jiang Yaoping said that currently the economies of China and Russia have reached the most difficult stage after the international financial crisis, and they are on the track of recovery. However, there is still a lot of uncertainty and the two sides must coordinate to deal with it.

In particular, he pointed out that Sino-Russia mechanical and electrical enterprise cooperation lacks large-scale project support and mutual investment is in its infancy. Therefore, the role of China-Russia investment promotion mechanism should be brought into play, and projects that seek reliable cooperation for the enterprise should be promoted by large-scale projects that are jointly participated by both parties. China Electromechanical Industry Cooperation.

In order to promote the smooth development of cooperation between the two sides, Jiang Yaoping proposed that China and Russia further promote the role of the electromechanical industry as a platform to consolidate the market-based status of the electromechanical enterprises of the two countries, vigorously develop mutual investment and cooperation in electromechanical and high-tech industries, and strengthen the building of ancillary service systems.

In order to implement the results of the fifteenth periodic meeting between Chinese and Russian Prime Ministers and expand the proportion of electromechanical products in bilateral trade, a delegation of Russian electromechanical enterprises visited China in mid-January 2011 at the invitation of the China Chamber of Commerce for Import and Export of Machinery and Electronic Products. The "China-Russia Electromechanical Industry Cooperative Development Forum" was held during this period.