The exodus of main world automakers has opened the door for Chinese manufacturers
China exported over 160,000 automobiles to Russia final yr, greater than doubling its share of the nation’s auto market, Chinese Ambassador to Moscow Zhang Hanhui has revealed.
In an interview with Russian newspaper Izvestia on Friday, the Chinese diplomat famous that annual commerce turnover between the 2 nations hit a file $190.27 billion final yr, having jumped by practically 30%.
“Cooperation in such areas as automobiles, household appliances, consumer electronics, has been developing rapidly,” Zhang mentioned, including that China’s auto provide was up by 33.4% over the yr. “The share of Chinese brands in the Russian market has rapidly increased from 7% to 19.2%, the models of cooperation between enterprises were diversified,” Zhang reported.
The ambassador additionally highlighted that “in the field of consumer electronics, the share of exports to Russia amounted to $4.09 billion, demonstrating an increase of 9.3%.”
He famous that smartphones, TVs, washing machines, fridges and different merchandise of Chinese manufacturers have been profitable client confidence in Russia.
“China and Russia have strong economic complementarity, a strong base for trade and economic cooperation, and broad prospects,” Zhang concluded.
The recognition of Chinese vehicles in Russia has been rising amid the exodus of European, American, Japanese and South Korean manufacturers. Many automakers discovered it tough to proceed operations within the nation as a consequence of logistical disruptions ensuing from Western sanctions, notably after deliveries of automobiles and spare elements to Russia have been stopped.
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(RT.com)