Xinhua Silk Road: China-Russia Economic and Trade Index Report (2020) officially released by CEIS

Xinhua Silk Road Information Service

PR85654

 

BEIJING, Sept. 17, 2020 /PRNewswire=KYODO JBN/ --

 

The China-Russia Economic and Trade Index Report (2020) was officially released

by the China Economic Information Service (CEIS) on Wednesday.

 

The report reflects the trade volume between China and its regions with Russia,

and scientifically monitored the development level and trend of bilateral trade

via the establishment of a quantifiable index system.

 

Per the index result, China-Russia trade index showed a steady upward trend in

2019, up 12.66 percent from that in 2018.

 

The monthly China-Russia economic and trade index shows that although global

trade has shrunk sharply due to COVID-19, China-Russia bilateral trade has

maintained an increase trend, reflecting the great resilience and potential of

bilateral economic and trade cooperation.

 

Based on the trade complementarity index, among China's exports to Russia, the

products with strong trade complementarity are finished products classified by

raw materials, machinery and transportation equipment, and miscellaneous

finished products, including food, textiles, steel, and machinery. Among

Russia's exports to China, non-edible raw materials, fossil fuels and

lubricants are highly complementary.

 

The intra-industry trade index reflects that China and Russia enjoy the highest

degree of division of labor in food industry, followed by processing

manufacturing. The division of labor in consumer goods retail industry is

becoming increasingly optimized.

 

The results fully reflect the scale and quality of bilateral economic and trade

cooperation between the two countries have continuously improved, boasting a

promising future.

 

Harbin, the capital city of China's Heilongjiang Province, has inherent

geographical advantages in trade with Russia. The release of Harbin City

Radiation Index can provide decision-making support for the development of

Harbin as a regional center in cooperation with Russia.

 

Harbin City Radiation Index closed at 149.46 points in 2019, registering an

increase of 13.01 percent year on year.

 

The first report China-Russia Economic and Trade Index was officially released in June 2019.

 

CEIS is the main body responsible for the integrated management and operation

of economic information business of Xinhua News Agency. "Xinhua Finance," the

national financial information platform under CEIS, serves the country's

economic development and financial security. "Xinhua Indices," the first and

only index service organization in all fields in China, has incubated a number

of influential index products in capital market, industry, urban development

and brand building.

 

See the original link: https://en.imsilkroad.com/p/316240.html 

 

SOURCE  Xinhua Silk Road Information Service  

 

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