A barge nears the Heihe port in Northeast China's Heilongjiang Province as Heihe-Blagoveshchensk, Russia cross-border dry bulk cargo water transport began on June 12, 2022. Five barges with displacements of 1,000 tons and one with 600 tons took part. Photo: VCG

China-Russia trade continued to record marked growth in October, with total import and export volume reaching $17.64 billion, a year-on-year increase of 26.1 percent, China's General Administration of Customs (GAC) said on Monday.

In October, China's export to Russia amounted $7.41 billion, up 25.7 percent year-on-year, and China's import from Russia rose to $10.23 billion, up 26.5 percent year-on-year. 

Analysts said that the trade between China and Russia had remained strong during past months and will see further expansion, thanks to complementarity of industrial products of the two neighboring countries.

The accumulative trade between China and Russia in the first 10 months this year reached $153.94 billion, growing 33 percent year-on-year.

"The accumulative China-Russia trade volume has crossed the $150 billion mark, which demonstrates remarkable resilience thank to pro-growth efforts made by both China and Russia this year," Song Kui, president of the Contemporary China-Russia Regional Economy Research Institute, told the Global Times on Monday. 

A Sputnik report said that Russia natural gas exported to China via the eastern Power of Siberia natural gas pipeline rose by 60 percent in the first eight months of 2022.

After the pipeline's coming into operation at the end of 2019, natural gas exported to China reached 4.1 billion cubic meters in 2020, and 10.4 billion cubic meters in 2021, and the flow is expected to reach 38 billion cubic meters by 2025, sources said.

In addition, the improvement of the infrastructure cooperation between China and Russia, including the opening to traffic of the first China-Russia highway bridge, which stretches from Heihe, a border city in Northeast China's Heilongjiang Province, to the Russian city of Blagoveshchensk spanning the Heilongjiang River has boosted the flow of trade.

Global Times