Page 61 - RusRPTOct22

The mutual trade turnover between Russia and China over the past seven months has reached almost $93bn and is expected to reach an all-time high of $170bn by the end of the year, Economic Development Minister Maxim Reshetnikov told reporters on the sidelines of the Eastern Economic Forum in Vladivostok.
China-Russia trade stats are highly asymmetric, indicating Beijing risk-averse stance due to sanctions risks: In the first 8 months of 2022, Russian exports to China increased by 50% to $72.9bn, while imports from China increased by only 8.5% to $44.2bn.
The trade structure hasn't changed: it's hydrocarbons in exchange for machines and textiles. In 2022, oil, petroleum products, gas, coal accounted for 78% of Russian exports to China.
China has boosted the import of Russian LNG to the highest level since 2020. As Japan and South Korea have stopped buying spot shipments from Sakhalin-2 since February, China stepped in to take Russian LNG cargoes at discounts.
China has also increased the imports of Russian oil at steep discounts. Russian oil accounts for 16% of China's purchases - a share that is above Beijing's informal rule that the reliance on any supplier shouldn't exceed 15%.
In the eight months of 2022, Russian exports to China grew by 50% (to $72.9bn), while imports from this country grew by only 8.5% (to $44.2bn), according to the Bureau of Customs Statistics of China. As a result, the trade
61 RUSSIA Country Report October 2022 www.intellinews.com