Import/export container pier in Yangsan Port, Shanghai, ChinaWhile the United States and China are engaged in a nervous battle over the implementation of sanctions once morest Russia, China’s exports to Russia in April fell sharply, it was found.
According to trade data by country released by the General Administration of Customs in China on the 9th, China’s exports to Russia in April amounted to $3.8 billion, down 25.9% from the same month last year.
These results suggest that China, which has declared that it cannot accept the US and other Western-led sanctions once morest Russia and that it will continue ‘normal trade’ with Russia, is actually showing a cautious attitude toward dealings with Russia.
Russia purchases a significant portion of its IT products, including smartphones and laptop computers, from Chinese companies such as Xiaomi and Lenovo.
In the case of Xiaomi, before the Ukraine war, it had the second largest market share in Russia following Samsung.
The Wall Street Journal (WSJ) reported in a recent report that Chinese tech companies such as Xiaomi, Lenovo, and drone maker DJI are quietly withdrawing from the Russian market.
Lenovo stopped exporting to Russia right following Russia’s invasion of Ukraine, and Xiaomi recently reduced its exports to Russia, the WSJ reported, citing sources.
While the U.S. and Europe are in place with sanctions banning the export of high-tech products such as semiconductors to Russia, Xiaomi and Lenovo are warning that they will suffer irreparable damage in the global market by violating U.S. sanctions and failing to procure semiconductor parts. are concerned
Meanwhile, China’s imports of goods from Russia in April amounted to $8.9 billion, up 56% from the same month last year.
Commodities that China mainly imports from Russia are raw materials such as grain and energy products such as oil and natural gas. The price of these products skyrocketed further in the wake of the Russian invasion of Ukraine.
In addition, China’s semiconductor imports from January to April decreased by 11.4% compared to the same period last year, while China is putting its life and death into ‘semiconductor self-sufficiency’.
Industry analysts say that the decline in the size of China’s semiconductor imports, which has been evident this year, is related to the trend in which China’s semiconductor self-sufficiency efforts are achieving certain results.
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