Chinese companies are interested in creating in Russia, joint ventures for the production of equipment, medical products, as well as chemical products, Surana Radnaeva, general director of the legal and consulting company Sinoruss, told Sputnik at the round table “Import substitution in 2023: global trends and new challenges.”
The event was organized by the Commissioner under the President of the Russian Federation for the Protection of the Rights of Entrepreneurs and the Russian-Chinese Committee of Friendship, Peace and Development.
According to Radnaeva, fewer and fewer products are being imported into Russia from the USA, EU, Japan, and Canada , Australia, and Russia need to replace these goods.
“China has extensive experience in import substitution, and has now achieved leading positions in the world in such areas as communications, artificial intelligence, space, pharmacology, biotechnology, medical equipment, and the automotive industry and many others. This experience can be used in Russia,” she said.
According to Radnaeva, Chinese companies often seek help in creating such enterprises in the Russian Federation, as well as in finding reliable Russian partners.
“At the same time, to expand the localization of Chinese enterprises in the Russian Federation, more business events are needed in China so that Russian and Chinese businessmen establish more contacts. It is also necessary to provide Chinese companies with more information about work opportunities in Russia, the Russian economy and the Russian market,” she said.