CHINA China-Russia trade up 4.5 pct in the first eight months of 2019

CHINA

China-Russia trade up 4.5 pct in the first eight months of 2019

Xinhua

10:11, September 14, 2019

China and Russia saw their bilateral trade grow steadily in the first eight months of this year, according to the Ministry of Commerce (MOC). 

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A departure ceremony of China-Europe freight train service for cross-border e-commerce is held at Yangpu Station in Shanghai, east China, March 30, 2018. The train left Shanghai for Moscow in Russia on Friday. (Photo: Xinhua)

Bilateral trade totalled 70.59 billion U.S. dollars during this period, up 4.5 percent year on year, MOC spokesperson Gao Feng told a press conference Thursday. 

China's direct investment in Russia expanded 13 percent year on year in the first seven months of 2019, covering a wide range of sectors ranging from energy and agriculture and forestry development to automobile and food processing. Investment approaches also diversified. 

The two sides are promoting the establishment of a joint sci-tech innovation fund to support investment and cooperation in this field, according to Gao. 

China remained Russia's largest trading partner for the ninth consecutive year in 2018, with bilateral trade topping 100 billion U.S. dollars. 

Bilateral service trade almost doubled in 2018 compared with the previous year, according to Gao. 

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