Trade between China and Russia has reached a record level in 2024, according to official data published Monday, a new sign of rapprochement between the two countries, despite the economic sanctions imposed on Moscow. China’s combined imports and exports with Russia reached around 240 billion euros in 2024, up around 2% from 235.3 billion euros recorded in 2023, according to official figures from the Chinese customs. This is a historic level, even if the increase in these exchanges has slowed significantly compared to the strong surge recorded between 2022 and 2023 (+26.3%).
Political and economic ties between Beijing and Moscow have strengthened since the Russian invasion of Ukraine and the economic sanctions adopted in return by part of the international community against Russia. China, which presents itself as a neutral actor, has repeatedly refused to condemn the Russian invasion. In a New Year’s message to Vladimir Putin, Chinese leader Xi Jinping said the two powers “continue to advance hand in hand on the righteous path of non-alignment”according to official media.
Trade between China and the United States – the world’s two largest economies – also increased in 2024 compared to last year, increasing by 3.7% for a total amount of around 675.1 billion euros. , according to Chinese customs data. US President-elect Donald Trump has promised to increase tariffs on Chinese imports after his inauguration scheduled for next week.
Swiss
