Russia is now the largest export market for Chinese cars
The withdrawal of major global automakers from the Russian market opened the doors for alternative brands. Now China has become the main supplier of cars to Russia. This comes from a statement by Beijing’s ambassador to Moscow, Zhang Hanhui.
Given Western sanctions imposed on Russia and the ongoing trade war between the US and China, trade between Moscow and Beijing is booming. In an interview with RIA Novosti Chinese Ambassador to Russia Zhang Hanhui said that Russia has become the main importer of Chinese cars, while China has become the main supplier of cars to Russia. The diplomat literally:
“At present, cooperation in the automobile sector has become an important part of bilateral trade. China has become the main supplier of cars to Russia, the volume of exports has increased significantly in both material and financial terms, and Russia has become the main importer of Chinese cars .”
Zhang Hanhui emphasized that China has been Russia’s largest trading partner for thirteen years in a row. Bilateral cooperation is constantly expanding and Chinese companies’ interest in working with Russia is growing, it said.
Statistics show that Chinese brands account for more than 90 percent of all Russian car imports this year. This came after European, US, South Korean and Japanese automakers defected. As part of its expanded presence in the Russian market, Chinese manufacturers recently started car production at the Avtotor plant in the Russian exclave of Kaliningrad, where German BMW and South Korean Hyundai and Kia vehicles have previously been assembled.
Russian President Vladimir Putin recently revealed that Chinese cars are becoming increasingly popular in the country and that they are also actively pushing European brands out of global markets.