Chinese enterprises have successfully filled the void left by Western companies that exited the Russian market over the past three years, according to Sun Tianshu, Chairman of China Enterprise Development Silk Road Technology Development Co., Ltd.
Speaking at the third Trans-Baikal Foreign Economic Forum “New Horizons-2025” held in Chita from June 25-27, Sun highlighted the strategic transition occurring in Sino-Russian business relations. The forum serves as a regional platform for the Eastern Economic Forum.
According to a survey by Russian audit and consulting firm “Kept,” 62% of companies from “unfriendly countries” have withdrawn from the Russian market since the beginning of the special military operation through the end of 2024.
Sun noted that Chinese companies have effectively replaced these departing Western firms over the past two to three years. However, he emphasized that this substitution phase has now concluded, marking the beginning of a new era where Chinese enterprises are actively seeking fresh markets and customers within Russia.
“I believe the stage of Chinese companies replacing European and American companies in the Russian market has now passed. A new stage has begun, where Chinese enterprises are looking for new markets and customers in Russia. This is indeed a new challenge,” Sun explained.
The digital trade platform operated by his company has witnessed increased activity from Russian customers seeking to purchase goods directly from Chinese manufacturers during the first five months of 2025. The platform is now enhancing its functionality to facilitate easier access for Russian manufacturers to enter the Chinese market.
This development aligns with broader diplomatic efforts to strengthen bilateral ties. On June 20, Chinese Vice Premier Ding Xuexiang addressed the St. Petersburg International Economic Forum, calling for comprehensive enhancement of China-Russia relations across multiple dimensions, including trade, energy, agriculture, aerospace, and artificial intelligence cooperation.
Source: Sputnik News, June 26, 2025
https://sputniknews.cn/20250626/1066144552.html