China's exports to Russia grow in September at fastest pace in nine months
BEIJING, Oct 15 (Reuters) -China's exports to Russia grew 15.7% in September from a year earlier, the fastest pace in nine months and up from a 10.1% gain a month prior, Chinese customs data showed on Monday, following fresh agreements to expand economic cooperation.
By contrast the data, in yuan terms, showed that imports from Russia fell 9.2% last month from a year earlier, compared with a 1.1% drop in August, following reports Russian exporters were struggling to process payments with Chinese buyers.
In late August, China and Russia signed cooperation agreements in areas such as investment, cross-border cargo transportation and science and technology, during a visit to Moscow by China's second-ranking official Premier Li Qiang.
"Bilateral trade has maintained a momentum of growth," Chinese state media cited Li as telling Russian Prime Minister Mikhail Mishustin at the time. "We are confident and also hopeful about further deepening the all-around and mutually beneficial cooperation between our two countries."
Chinese carmaker Chery CHERY.UL has started assembling cars in Russia at three factories vacated by Western rivals, Reuters reported on Thursday.
Trade between China and Russia rose 2.7% in value terms in the first nine months of the year from the same period a year earlier, reaching 1.28 trillion yuan ($180.3 billion).
($1 = 7.1011 yuan)
Reporting by Joe Cash; Editing by Christopher Cushing
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
