For Marat, a Russian based businessman in Shanghai, sanctions on for him home Heralded an unexpected opportunity in China as companies struggle to keep their supply chains open.
42-year old already Contacted by Fishing Components Company for partners in China after cutting off from its suppliers in Europe and North America.
“Just be prepared,” he said, was the message from the company headquarters in Belarus, an ally of Russia also under sanctions for supporting it’s a invasion of Ukraine.
“It will be a greater workload for me and for sureK resultthe biggest rewards, Marat said, who gave one name only because sensitivity of comment on The war within China.
Since Russian President Vladimir Putin launched the bloody attack on Ukraine, Western capitals froze Moscow out of The global financial systempushed its currency into free fall and pushed the country to the edge of the abyss of hypothetical.
But China – an old ally of Russia – refused to do so follow suits, throwing Moscow is a potential economic lifeline for match The diplomatic cover you provided by refusing to condemn invasion.
Beijing already The largest of Moscow trading a partner, with trade Sizes last year It reached 147 billion dollars, according to Chinese customs data, up more more than 30% in 2019.
There are early signs of bounce in Economic activity since the outbreak of the war, with Cross-border traders told AFP they were expecting a Russian demand to tilt east.
This crisis is an opportunity for Russian companies in China”, another Russian based businessman in Beijing told AFP using pseudonym Vladimir.
“China is open. They say, if you want to buyWe have (that),” he said.
ruble problem
But it was still a tough few weeks for most of Russia-facing Business in China.
Dealing with merchants in Everything from pesticides to auto She said fluctuations wild parts in the value of The ruble urged many Russian customers to stop taking it new Request #%s.
were others left The race to find ways to settle accounts in Chinese yuan after exclusion of Russian banks from SWIFT system left them unable to do dollar payments.
Meanwhile, shipments have been hit with delays as major carriers refuse to accept shipments to Russia and some routes to the world’s largest country are banned.
Everyone is waiting for Something more Beijing-based Vladimir said: who specialized in Importing Russian foodstuffs to China.
Everyone thinks… (maybe) sanctions will be abolished if the war ends completely soon. “
‘good for China’
China and Russia are getting closer in Last few years, with Putin especially attended the opening ceremony of Winter Olympics in Beijing last Month.
The strong leader and his Chinese counterpart Xi Jinping announced the relationship of “Without Borders” local deals for buy billions of dollar of Russian oil and gas.
in two russian trading shopping centers in Beijing, the stalls that exploded with Clothes and fabrics ready for export before the epidemic are now empty behind Locked doors.
War and sanctions will affect different industries in In different ways, Shanghai-based Marat said, as sectors with high entry and running costs – chemicals, for Example – it will likely do better than cheaper and faster-moving consumer goods.
Chinese business Angels are divided on what future carry, with Prepare a lot for steep drop in Russian spending power.
But others see-term benefits for China of Russian economy burnt to for partners.
who – which also He goes for Chinese businessmen operate within the world’s largest country in the country.
“It sure is good for China says Russia has fallen under Western sanctions,” Chi Dashui a 38-year old e-commerce platform operator told AFP from his Moscow headquarters.
Chinese companies can speed up set up processing plants for semi- Finished Goods in Russia if Moscow succeeds easier to do business There, he said.
“Gains for China will outweigh the losses in the long run,” He said.
