It is the increased interest to the Russian market that drives such a significant number of Chinese companies presenting their products at the INNOPROM Trade Fair, explained to 'Sputnik' Wang Qun, the chairman of 'the Belt and Road Initiative' Russian-Chinese Investment and Development Fund and the chairman of the Association of Entrepreneurs in the Sphere of Russian-Chinese Cooperation.

The 14th INNOPROM Trade Fair took place in Yekaterinburg on July 8-11 this year, with over 300 participating companies. Chinese companies prove to be the most numerous exhibitors at the Trade Fair. The Fair has also been attended by 24 regions of Russia, companies from Türkiye, Egypt, Belarus, Qazaqstan, Uzbekistan, Hungary, Kyrgyzstan, Kazakhstan, Tajikistan, and Uzbekistan.

“China has always been very interested in cooperating with Russia in the industrial sphere. This manifests not only through the INNOPROM Trade Fair participation, but through various other fairs and platforms as well. One can find a lot of Chinese investors and entrepreneurs here. I think the reason is the high degree of mutual political trust and overall positive atmosphere of cooperation between China and Russia,” Wang Qun continued.
According to him, the huge demand for Chinese products at the Russian market would constitute another important reason. Wang Qun noted that last year, bilateral trade in goods between China and Russia reached $240.1 billion, up 26.3 percent year-on-year.
“It shows that bilateral trade between China and Russia is constantly being improved and upgraded, and the quality of Chinese products is truly appreciated by a Russian consumer. China has the world's leading production capacity and technological advantages, while Russia has an excellent base in heavy-equipment industry and high-tech manufacturing,” he said.

Among other areas for cooperation, the entrepreneur named technology exchange, digital economy, e-commerce, mobile payments, big data, traditional light industry sectors.
“Chinese companies definitely benefit from setting up industrial enterprises in Russia. On the one hand, the Russian market is huge, and where there is demand, there are opportunities. On the other hand, the conditions and guarantees for foreign enterprises are also constantly improving. But for Chinese companies to really dare to come to Russia intentionally, I think Russia still needs to improve government support, guarantees among other important aspects,” Wang Qun added