MOSCOW, July 3. The development of digitalization will increase trade turnover between Russia and China, including by overcoming sanctions barriers, the participants of the round table “Digitalization of Russian-Chinese trade relations in the context of sanctions pressure” are confident.
The event took place on Wednesday at the Rossiya Segodnya International Multimedia Press Center. Its co-organizers were the Russian-Asian Union of Industrialists and Entrepreneurs (RAUIE), the Union of Chinese Entrepreneurs in Russia, the Russian Export Center (REC) and the Russian-Chinese B2B digital trade platform Kifa. 
The Round Table discussed issues relating to import-export transactions between China and Russia, the construction of supply chains, the problem of prompt execution of cross-border payments under sanctions pressure and other pressing issues of bilateral cooperation.
Chairman of the Union of Chinese Entrepreneurs in Russia Zhou Liqun pointed out that the digitalization of trade between Russia and China is still at a low level, and most transactions take place offline. At the same time, according to him, the record trade turnover between Russia and China ($240 billion) achieved in 2023 is not the limit, and its further growth is possible, including through digitalization.
“This is a record for our countries, but not the limit: business activity continues to grow even despite sanctions and, according to forecasts, in the coming years the turnover could reach 350-400 billion dollars. And a prerequisite for this is the emergence of accessible digital tools,” Zhou Liqun said. 
According to him, the need for digitalization of trade is understood and supported at the level of the governments of Russia and China, as evidenced by the inclusion of the Kifa digital trade platform in the list of significant projects of the intergovernmental commission on investment cooperation.
“It is known that diamonds are born under high pressure. And the success of bilateral trade under sanctions is also diamonds. I firmly believe in our cooperation and mutual respect. Since the establishment of diplomatic relations in 1949, Russia and China have supported each other at the most important moments, and Today we maintain our friendship and mutual benefit,” concluded Mr. Zhou.
Chairman of the Russian Union of Industrialists and Entrepreneurs Vitaly Mankevich emphasized that in the conditions of the new geopolitical reality, China is one of the most significant partners of Russia, and therefore Russian-Chinese relations have been characterized by very high dynamics in recent years. 
«The general trend indicates constant growth trade turnover and the scale of cooperation. Such results were achieved despite sanctions pressure and, in particular, fears of secondary sanctions, which prevent trade from developing naturally, slowing down and complicating key processes,” the head of the RASPP noted, adding that there is an opportunity for further expansion. sanctions.
According to Mankiewicz, digitalization is already helping to cope with sanctions pressure today, making it possible to integrate various processes to improve the efficiency of transactions.
“Coordinated steps are gradually being taken to transfer payments into national currencies to minimize risks (the share of the ruble and yuan in joint commercial transactions already exceeds 90%). An independent financial infrastructure is being developed that would function within the framework of the association of BRICS partner countries and could protect trade investment operations of our countries from potential sanctions and other restrictive measures of the West. However, the implementation of these projects requires significant time and resource expenditures and is still far from completion,” says the expert.
A comprehensive solution requires a centralized interstate approach, Mankiewicz is sure. 
According to him, a significant part of the solutions that the digital approach offers are concentrated in the field of logistics and customs clearance. In particular, the work of entrepreneurs can be significantly simplified by automating the customs clearance process, synchronizing databases to simplify the work of customs warehouses and paperwork. Digital solutions can also help standardize legal documents.
«By developing uniform templates and algorithms for common cases, introducing work into a single legal field, we will significantly speed up and simplify the process of transactions, relieving businesses of numerous problems associated with differences in the legal systems of Russia and China, translation difficulties, the need to resolve litigation, legal incidents, accompanied by costs for business,” explains the head of the RASPP.
He also noted that the Chinese side is very active in working on the digitalization of trade relations. Many projects in this area are being implemented within the framework of the Belt and Road Initiative, under the auspices of special economic zones and hubs, such as the Chinese-Russian industrial park in Liaoning province. 
«In the new digital era of trade between Russia and China, we expect increased business opportunities when production and trade will become even more interconnected, unlocking the potential of companies. This will reduce the cost of goods, improve their quality, expand the range and achieve new impressive results in Russian-Chinese trade,” Mankiewicz concluded.
In turn, REC Vice-President Roman Genkel spoke about current issues of exporting Russian goods to China and measures to support exporters. Thus, in 2023, as part of cooperation with China, the REC provided support to 1,784 unique participants in foreign economic activity in transactions totaling about $1.6 billion. The greatest support was received by mechanical engineering, agriculture, timber industry, and the chemical industry.
«We are trying to move all processes for Russian companies online as much as possible. These include payments and the block associated with obtaining permits. <…> And thanks to a combination of digital tools and support measures, we will help our companies be have a more effective and active presence in the Chinese market,” said Genkel.
The founder of the Russian-Chinese B2B digital trade platform «Kifa» Sun Tianshu noted that the digitalization of Russian-Chinese trade will provide companies, enterprises and the population of the two countries with convenience, speed, efficiency, as well as lower cost and high quality products.