Russian Consumer Products Proving Popular In China’s Heilongjiang Province
Regional Russia-Heilongjiang Trade Up 24.5%, Bilateral China Trade Up 41.3%
Residents of China’s North-Eastern Heilongjiang Province, which borders Russia, are soaking up supplies of Russian food, including caviar, beer, and candy. Heilongjiang’s trade turnover share with Russia in Q1 2023 increased by 24.5% over the same period last year, reaching ¥49.04 billion (about US$7.13 billion).
According to the International Trade Promotion Committee (ITPC) of Heilongjiang Province, rose gold jewellery – Russia has some of the world’s largest gold reserves – as well as consumables including caviar, seafood, cakes, beer, sweets, grain, honey, oil and other goods from Russia are very popular.
Local Heilongjiang authorities drew attention to the fact that Russia has vast arable lands, rich in natural resources, and has unique advantages in food production. The IPTC noted that when it comes to Russian produce, “Everything from grain to livestock products, from aquatic products to vegetables, fruits and processed foods, is of extremely high quality.”
To the West, the European Union has banned the import of Russian consumables such as beers, vodka, and caviar. Those products are now being enjoyed in Chinese and other Asian markets. Fresh Russian seafood is also used not just in traditional Russian and Chinese dishes, but also in Japanese cuisines such as sushi.
On a national basis, according to the data of the General Administration of Customs of China, the bilateral trade turnover between China and Russia from January to April 2023 increased by 41.3% year on year, to US$73.148 billion. Exports from China to Russia increased by 67.2% over four months and amounted to US$33.68 billion. Deliveries from Russia increased by 24.8% to US$39.46 billion.
Russia took first place in natural gas supplies to China in January this year. According to Chinese customs, in January China received 2.7 billion cubic metres of Russian gas.
Source: Regnum
Dezan Shira & Associates can assist Russian exporters into the China market and have over 30 years of experience in this field. Please contact: china@dezshira.com
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During these uncertain times, we must stress that our firm does not approve of the Ukraine conflict. We do not entertain business with sanctioned Russian companies or individuals. However, we are well aware of the new emerging supply chains, can advise on strategic analysis and new logistics corridors, and may assist in non-sanctioned areas. We can help, for example, Russian companies develop operations throughout Asia, including banking advisory services, and trade compliance issues, and have done since 1992.
We also provide financial and sanctions compliance services to foreign companies wishing to access Russia. Additionally, we offer market research and advisory services to foreign exporters interested in accessing Russia as the economy looks to replace Western-sourced products. For assistance, please email russia@dezshira.com or visit www.dezshira.com
