China-Russia Trade Surges Amid Ukraine War, Boosting Local Economies
Since the onset of the Ukraine war, trade between China and Russia has significantly increased, with Russian rubles flowing into Chinese border towns. This economic relationship has been bolstered by a 'no limits' partnership declared by Xi Jinping and Vladimir Putin. The trade surge is particularly evident in Suifenhe, a Chinese city near the Russian border, where car exports to Russia have become a major industry. Despite Western sanctions, Chinese businesses have filled the void left by retreating Western companies, with exports from Heilongjiang province to Russia increasing by 22%. The influx of Russian visitors, facilitated by a visa-free policy, has further stimulated local economies. However, China's economy faces challenges such as an aging population and a depressed real estate sector, making it reliant on exports, including discounted energy supplies from Russia. 
