The China-Russia Economic and Trade Index Report (2020) was officially released 
by the China Economic Information Service (CEIS) on Wednesday. 

The report reflects the trade volume between China and its regions with Russia, 
and scientifically monitored the development level and trend of bilateral trade 
via the establishment of a quantifiable index system.

Per the index result, China-Russia trade index showed a steady upward trend in 
2019, up 12.66 percent from that in 2018. 

The monthly China-Russia economic and trade index shows that although global 
trade has shrunk sharply due to COVID-19, China-Russia bilateral trade has 
maintained an increase trend, reflecting the great resilience and potential of 
bilateral economic and trade cooperation. 

Based on the trade complementarity index, among China's exports to Russia, the 
products with strong trade complementarity are finished products classified by 
raw materials, machinery and transportation equipment, and miscellaneous 
finished products, including food, textiles, steel, and machinery. Among 
Russia's exports to China, non-edible raw materials, fossil fuels and 
lubricants are highly complementary.

The intra-industry trade index reflects that China and Russia enjoy the highest 
degree of division of labor in food industry, followed by processing 
manufacturing. The division of labor in consumer goods retail industry is 
becoming increasingly optimized.

The results fully reflect the scale and quality of bilateral economic and trade 
cooperation between the two countries have continuously improved, boasting a 
promising future.

Harbin, the capital city of China's Heilongjiang Province, has inherent 
geographical advantages in trade with Russia. The release of Harbin City 
Radiation Index can provide decision-making support for the development of 
Harbin as a regional center in cooperation with Russia.

Harbin City Radiation Index closed at 149.46 points in 2019, registering an 
increase of 13.01 percent year on year.

The first report China-Russia Economic and Trade Index was officially released 
in June 2019.

CEIS is the main body responsible for the integrated management and operation 
of economic information business of Xinhua News Agency. "Xinhua Finance," the 
national financial information platform under CEIS, serves the country's 
economic development and financial security. "Xinhua Indices," the first and 
only index service organization in all fields in China, has incubated a number 
of influential index products in capital market, industry, urban development 
and brand building. 

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SOURCE  Xinhua Silk Road Information Service