China to cope with Russia over trading troubles
by Wang Fangqing
July 01, 2009
The Russian government said on June 18 that it's going to destroy a batch of commodities from China whose value is reportedly around US$2 billion, according to the state-run Xinhua news agency.
The Russian government said these commodities were caught during its crackdown on "Gray Customs", referring to some Russian clearance companies finding illegal ways to bring imported goods into the country at a tax rate lower than regulated rates.
China's Foreign Ministry spokesman Qin Gang said at a press conference on Tuesday that China is seeking solutions to solve the trading problems with Russia through consultation, and he urged all Chinese merchants involved to comply with its regulations.
The trading volume between Russia and China had been experiencing steady growth for a decade until it was hit by the global recession. According to China Customs, exports to Russia was US$6.06 billion in the first five months this year, down 48 percent year-on-year, in the meantime imports from Russia also dropped by 29.3 percent to US$7.43 billion.
China's Foreign Ministry spokesman Qin Gang said at a press conference on Tuesday that China is seeking solutions to solve the trading problems with Russia through consultation, and he urged all Chinese merchants involved to comply with its regulations.
The trading volume between Russia and China had been experiencing steady growth for a decade until it was hit by the global recession. According to China Customs, exports to Russia was US$6.06 billion in the first five months this year, down 48 percent year-on-year, in the meantime imports from Russia also dropped by 29.3 percent to US$7.43 billion.
Tags: Trading , Troubles , China , Russia , Gray , Illegal
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