Contents tagged with China

  • Belarus finds new ‘big brother’ instead of Russia

    By the end of 2019, Belarus plans to sign a credit agreement with the China Development Bank to replace the loan it did not receive from Russia, reports, citing Belarusian Finance Minister Maksim Yermolovich.

    According to the minister, the Chinese bank has only provisionally agreed to give Minsk up to $500 million. The interest rate is still being discussed, and the loan will be denominated in yuans.

    “For quite a long time we have been building such relations with the Russian …

  • Maduro turns to Putin following China’s refusal to buy Venezuelan oil

    Venezuelan President Nicolas Maduro plans to make another trip to Russia, announced Kremlin Spokesperson Dmitry Peskov on Friday.

    According to Peskov, the visit is currently being planned.

    Peskov did not specify when the visit would take place, but he did note that Maduro would not be participating in the Russian Energy Week, which will be held from October 2-5.

    The visit will take place “quite soon”, most likely in the first few days of October, three informed sources told the Interfax news …

  • China promises Kremlin $2.6 billion to accelerate Russian economy

    The Russia-China comprehensive partnership and strategic cooperation has reached a new level, said Russian Prime Minister Dmitry Medvedev after meeting with Chinese Premier Li Keqiang in Moscow.

    Medvedev said that after the meeting he and Mr Keqiang signed a set of agreements consisting of nearly twenty documents, including commercial agreements and investment agreements.

    Overall, China plans to allocate roughly $2.6 billion to projects that form part of the plan to accelerate the Russian …

  • Putin orders construction of second gas pipeline to China

    On Monday, Russian President Vladimir Putin met with Alexey Miller, CEO of the gas monopoly Gazprom, and gave the green light to a new megaproject to supply China with gas.

    After the $9 billion Power of Siberia project, which will start pumping gas on December 1, Putin said that Gazprom must work on a pipeline to connect gas fields in Irkutsk, Krasnodar Krai and Yamal to the Chinese market.

    The Russian President said that he has repeatedly discussed this matter with the Gazprom CEO and with …

  • India to follow China in importing Russian timber

    Following China’s example, India now intends to start importing timber from Siberia and the Russian Far East.

    According to the India Times, the possibility of importing more timber from Russia was discussed between August 11-13 in Vladivostok, Russia, during a visit by an Indian delegation that was led by Minister of Commerce and Industry Piyush Goyal and included the heads of four Indian states and 140 Indian companies.

    On the Russian side, the talks were attended by Deputy Prime Minister …

  • Russia demands compensation from China for deforestation in Siberia

    Russia is expecting China to invest in a joint project to restore the forest in Siberia in the wake of illegal logging and subsequent exportation to china, Dmitry Kobylkin, Russian Minister of Natural Resources and Ecology, told Vedomosti in an interview.

    He said that “serious work” is being done with the Chinese.

    “I asked their law enforcement agencies to get involved,” Kobylkin explained, “Because I really don’t like the fact that we are dealing with their ‘comrades’ on our own here in …

  • Huawei and Russian Sberbank prepare to integrate payment services

    The Chinese giant is taking steps to achieve independence from the American Market. Recently it unveiled its own operating system, and now it has announced that it will be cooperating with a Russian state bank, reports DW.

    Russia’s Sberbank and the Chinese concern Huawei are discussing the possibility of integrating the Huawei Pay service with the bank’s own payment service. “We are also discussing various applications and services, how to create a microsystem, a base, how to combine our …

  • Huawei reports record revenue in Russia

    According to the Russian online business registry, SPARK, the revenue of the Russian subsidiary of Huawei Technologies Co. (LTC Huawei Tech Company) increased from 61.7 billion to 132.3 billion rubles in 2018. Net profit of the company at the end of last year increased by 2.4 times to 3.35 billion rubles.

    LTC Huawei Tech Company was registered on September 15, 2000. According to the SPARK data, the amount of last year's revenue is the company's new record. A representative of Huawei declined …

  • China sends soldiers to Russia for 'army games'

    China’s People’s Liberation Army is sending soldiers to Russia to participate in the International Army Games 2019 which will be held in Russia and five other former Soviet states.

    In addition to troops, China will be sending military equipment such as tanks and fighter aircraft to the games, whose competitions which will include a tank biathlon, “Aviadarts” - a competition for flight crews, and the “Masters of artillery fire”.

    For the first time in the history of the Chinese armed forces, a …

  • Russia to connect to Chinese SWIFT alternative

    Russia and China have agreed to transition to an international payments mechanism that is independent of SWIFT, Russian Deputy Finance Minister Alexey Moiseyev told Reuters in an interview.

    A corresponding point was included in the international agreement to develop payments in national currencies that was signed by Russian President Vladimir Putin and his Chinese counterpart Xi Jinping at the St. Petersburg Economic Forum in June.

    At present, China is the most “dollarized” market of all that …