Research On China And Russia Trade Relations Under The Background Of The Belt And Road Initiative

Content of this paper is aimed at researching possible areas of cooperation in the field of economy and trade between China and Russia within the background of the Belt and Road initiative.This cooperation includes the advancement of trade flows between two countries,gradual promotion of regional economic development,further improvement of energy cooperation,infrastructure and construction,etc.And all of these in order to promote the framing of the Silk Road Economic Belt.A treaty aiming for the establishment of the Eurasian Economic Union was signed on 29 May 2014 by the leaders of Belarus,Kazakhstan and Russia,and came into force on 1 January 2015.On 8 May 2015 China and Russia signed “Joint Statement on Cooperation on the Construction of Joint Eurasian Economic Union and the Silk Road Projects” that identified the objectives,principles and priorities of cooperation.The Silk Road Economic Belt and the Eurasian Economic Union are highly complementary and have great potential for further cooperation.By signing “Joint Statement on Cooperation on the Construction of Joint Eurasian Economic Union and the Silk Road Projects” Russia got essential guarantees that China will respect Russia's political interests in Central Asian region.It should be taken in the consideration that the signing of Joint Statement does not solve all the upcoming problems,but it sets up a stable platform which will help in finding compromises.In the long term,the Belt and Road initiative will have a good impact on Russia's trade structure,as well as on bilateral cooperation.Focusing on this topic,this dissertation mainly includes the following issues:Firstly,this paper clarifies changes between Russia and China in export-import structure and trade commodity structure under the background of implementation the Belt and Road initiative.It is followed with the quantity changes of Russia-China trade commodity structure,and also analyzes the emergence of the positive feedback of the Belt and Road influence.Secondly,it measures the mutual dependency of trade intensity between China and Russia,including the calculation of the trade intensity index of China influence on Russia,and Russia influence on China respectively,also the trend of trade intensity index is obtained.Moreover,in the basis of the grey correlation model,the following factors were considered as comparison sequences: differences in income levels between China and Russia per capita(X1),market scale difference(X2),differences in market freedom(X3),correlation in goods trade(X4),Russia direct investment into China(X5)and China direct investment in Russia(X6),and it reveals the key factors which influence the Russia-China trade intensity.These factors also reveal the changes that took place before and after the Belt and Road implementation.Finally,under the framework of the Belt and Road initiative China and Russia trading development analyzed from countermeasures that can be forwarded by trade and economic cooperation between Russia and China.Specific strategies include integration of freight logistics in the Eurasian region,strengthening of cross-border industrial cooperation,expansion and deepening of the regional integration process.Furthermore,reducing the income level disproportion between China and Russia and advancing market liberalization are also important countermeasures for improving trading between China and Russia.This paper studies the cooperative mechanisms which are beneficial to the establishment of effective and standardized cooperation between China and Russia,and promotes economic and trade cooperation between the two countries that can develop steady and long partnership.