Novosibirsk entrepreneurs got acquainted with the economic potential of China

On April 4, within the framework of cooperation between the Development Corporation of the Novosibirsk Region and the Novosibirsk City Chamber of Commerce and Industry (NCCCI), a videoconference «An Hour with the Trade Representative» was held on the development of trade and economic cooperation between Novosibirsk business and the People’s Republic of China.

The event was attended by the Trade Representative of the Russian Federation to the People’s Republic of China Alexey Dakhnovsky, leading experts of Trade Representation of the Russian Federation in the People’s Republic of China Sergey Bychkov and Syumer Palkin, as well as representatives of business communities from 15 regions of Rissia, including members of the NCCCI.

Alexey Dakhnovsky briefly characterized the People’s Republic of China and trade and economic cooperation with Russia. According to the results of 2023, Russia’s trade turnover with China amounted to 240 billion dollars. The exports is about $129 billion. Russia is the 6th trade partner in China.

The structure of exports to China from Russia includes oil and petroleum products, agricultural products, wood products, non-ferrous metals, ores, and chemical products. Imports to Russia are represented by machinery and equipment, chemical industry, textile materials, ferrous metals, food products.

Mr. Bychkov presented a detailed report on due diligence of Chinese companies. This is a service provided by the Trade Representation to Russian companies. Such work includes several stages — formal verification of documents, verification of registration data in official registers, examination of the company’s website and official accounts, analysis of details and contact information of the Chinese company, and face-to-face inspection of the company’s offices and production facilities.

Syumer Palkin drew the attention to the rules and procedure for access of foreign companies’ products to the Chinese market. He emphasized the need to register the trademark or trade name of a Russian company in advance before importing it into China.

During the online meeting, representatives of the Trade Representation of the Russian Federation to the People’s Republic of China answered topical questions from entrepreneurs, including companies from the Novosibirsk Region. The Trade Representation is ready to assist Russian companies in entering the China’s market, and also recommended participation in industrial exhibitions in China.

Press Service of the NCCCI

April 5, 2024