Economic cooperation between China and Russia continues despite the global effects of the pandemic. For instance, Chinese enterprises in Shanghai have, for the first time, received 14,857 tons of soybeans imported from Russia at the Nantong port in Jiangsu province. It is expected that import volumes will increase in the future.
Cargo Volumes Remain Unaffected
In addition, the volume of China–Russia railway freight in February not only held steady, but actually increased by 10%, becoming a major highlight of bilateral cooperation under epidemic conditions. Notably, in the first two months of 2020, trade turnover between China and Russia rose 5.6% year-on-year to $17.1 billion.
2020: The Year of Innovation, Science, and Technology
The year 2020 marks the start of the China-Russia Year of Innovation, Science, and Technology. Plans are underway to launch research cooperation on epidemic prevention by leveraging the China-Russia Science and Technology Innovation Fund. Both countries intend to engage their scientific and technological potential in 5G technology, big data, e-commerce, and other advanced fields.
According to an agreement signed in June 2019, Huawei and MTS, Russia’s largest telecommunications company, are officially cooperating on 5G technology development and the rollout of 5G networks in Russia, laying a solid foundation for comprehensive entry into the fifth generation of mobile communications. In addition, in February 2020, AlibabaExpress demonstrated the convenience of online shopping. Such cooperation projects are quietly changing people’s daily lives and adding new significance to China–Russia relations in this new era.
Cargo Volumes Remain Unaffected
In addition, the volume of China–Russia railway freight in February not only held steady, but actually increased by 10%, becoming a major highlight of bilateral cooperation under epidemic conditions. Notably, in the first two months of 2020, trade turnover between China and Russia rose 5.6% year-on-year to $17.1 billion.
2020: The Year of Innovation, Science, and Technology
The year 2020 marks the start of the China-Russia Year of Innovation, Science, and Technology. Plans are underway to launch research cooperation on epidemic prevention by leveraging the China-Russia Science and Technology Innovation Fund. Both countries intend to engage their scientific and technological potential in 5G technology, big data, e-commerce, and other advanced fields.
According to an agreement signed in June 2019, Huawei and MTS, Russia’s largest telecommunications company, are officially cooperating on 5G technology development and the rollout of 5G networks in Russia, laying a solid foundation for comprehensive entry into the fifth generation of mobile communications. In addition, in February 2020, AlibabaExpress demonstrated the convenience of online shopping. Such cooperation projects are quietly changing people’s daily lives and adding new significance to China–Russia relations in this new era.