Share of local currencies in trade between Russia and China increased to 68 percent

Russian Economic Development Minister Maksim Reshetnikov said the ruble and yuan have a 68 percent share in the country’s foreign trade.

Reshetnikov made a statement to reporters in China, where he visited to establish contacts.

Reşetnikov stated that the trade volume between China and Russia continues to grow: “We will definitely exceed $200 billion in trade volume this year. “By the end of the year we can see between $215 billion and $220 billion,” he said.

‘VOLUME INCREASED BY 20 PERCENT EVEN DURING THE COVID-19 PERIOD’

Reşetnikov stressed that even during the Covid-19 epidemic there was an annual growth of 20 percent in the volume of trade between the two countries.

Assessing the share of the ruble and yuan in Russia’s foreign trade, Reshetnikov said: “Our trade is being restructured. “While the ratio of the ruble and yuan in all our relations is 68 percent, the rate in question in our trade with China is 95 percent,” he said. (AA)