China Reaffirms Ties With Russia As Mutual Trade Surges

China Reaffirms Ties With Russia As Mutual Trade Surges

Mutual trade between Russia and China surged in March in response to Western sanctions. According to Chinese customs data, Russian-Chinese trade rose to an equivalent of $38.2 billion last month, which is a 28 percent increase from a year ago.

China’s imports from Russia rose by 31 percent and Chinese exports to Russia increased by 25.9 percent. This came after Moscow and Beijing unveiled a new payments system based off national currencies instead of the US dollar. China also reaffirmed its commitment to quote “rock solid” economic relations with Russia.

 

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