China's trade with Russia grows at slower pace in Nov

Shipments of Chinese goods to Russia rose 17.9% year-on-year in dollar terms, slowing from 34.6% in October, but still marking the fifth monthly double-digit growth in a row, according to Reuters calculations based on Chinese customs data on Wednesday. Imports from Russia soared 28.5% in November from a year earlier, slower than the 36% gain in October, as COVID-19 flare-ups and related curbs weighed on domestic demand.

China's trade with Russia grew at a slower pace in November, as the ongoing Russia-Ukraine war, global recession risks and strict COVID restrictions in some Chinese cities weighed on demand abroad and at home. Shipments of Chinese goods to Russia rose 17.9% year-on-year in dollar terms, slowing from 34.6% in October, but still marking the fifth monthly double-digit growth in a row, according to Reuters calculations based on Chinese customs data on Wednesday.

Imports from Russia soared 28.5% in November from a year earlier, slower than the 36% gain in October, as COVID-19 flare-ups and related curbs weighed on domestic demand. Shipments of Chinese goods to Russia have maintained double-digit growth since July, as Russian imports from the European Union contracted under a raft of sanctions.

Chinese Premier Li Keqiang in a video conference on Monday told his Russian counterpart the two countries should steadily advance cooperation projects in key areas, and step up their economic and trade cooperation.