China-Russia trade at record high in 2023

BEIJING: Trade between China and Russia hit a record high in 2023, official Chinese data showed on Friday, while commerce with the United States fell for the first time in four years.

China-Russia trade reached more than $240 billion, China Customs figures showed, overshooting a goal of $200 billion set by the neighbours in bilateral meetings last year.

The figure is a record number for the two countries, who have grown closer politically and economically since Moscow’s invasion of Ukraine in 2022.

Beijing has drawn criticism from Western countries for its stance on the Ukraine war, on which China insists it is neutral.

It has refused to criticise Moscow’s invasion.

The trade figures represented a year-on-year increase of 26.3 percent, according to the data.

In contrast, trade between the US and China fell for the first time since 2019.

Commerce with the United States was valued at $664 billion last year, down 11.6 percent year-on-year.

-AFP