There is no Chinese capital flight from Russia, instead more is coming in
MOSCOW (Sputnik) — Chinese companies are not leaving the Russian market despite economic difficulties in the country, Cai Guiru, the president of the Association of Chinese Entrepreneurs in Russia, told Sputnik.
"Over the past several years, Chinese companies have been greatly impacted by the economic crisis. They are all members of the association. I told them that the situation in Russia was improving. Not one company has left. On the contrary, we have managed to bring in new investors," Guiru said.
She said that big changes were taking place in Russia and that the investment climate was changing for the better, with such companies as Great Wall, Lifeng and Zoomlion expanding their presence in the country.
Guiru also noted that China was willing to invest in Russia's Far East but faced certain difficulties, legislation being one of them.
"One and the same legislation is interpreted differently by different lawyers… A company may comply with one legal provision but be in violation with another," she said.
Guiru said that China was very interested in exports from Russia, including agricultural goods, chemical products and mineral resources, among other things.
On Thursday, Kremlin Chief of Staff Sergei Ivanov said that Russia-China relations were at a level never seen before.
According to Chinese Foreign Minister Wang Yi, the trade volume between the two countries stood at $90 billion in 2013 and was expected to hit $100 billion in 2015.