China Trade With Russia Hits Highest Level Since Start Of Ukraine War

Beijing, June 7 (UrduPoint / Pakistan Point News - 7th Jun, 2023 ) :China's total trade with Russia in May soared to levels not seen since the beginning of Moscow's conflict with Ukraine, official data showed Wednesday.

Trade between the two countries last month was worth $20.5 billion, data from Beijing showed, with Chinese imports from Russia worth $11.3 billion.

There was no official breakdown of the figures, which also showed China's exports more broadly falling for the first time since February -- breaking a two-month growth streak as a post-Covid rebound.

China is Russia's largest trading partner, with trade between them reaching a record $190 billion last year, according to Chinese customs data.

During a summit in March, Chinese President Xi Jinping and Russian leader Vladimir Putin pledged to boost trade to $200 billion in 2023 as they hailed their "no limits" partnership.

And Russian energy deliveries to China were set to grow by 40 percent this year, Deputy Prime Minister Alexander Novak said last month.

Figures Wednesday also showed exports to Russia rising 75.6 percent in May, the highest rate since Moscow's conflict with Ukraine started, even as trade with most major European markets and the United States fell.