Business > Market

Russia's imports of Chinese goods jump 20% to hover near pre-invasion highs, helping stem the ruble's rally

1 month ago   |   By Business Insider

Russian President Vladimir Putin with Chinese President Xi Jinping. RIA NOVOSTI/AFP via Getty Images
Russian demand for Chinese imports has ramped up to near pre-invasion levels, Bloomberg reported.
Russia bought $6.7 billion worth of Chinese goods in July, up 20% from a year ago.
As a result, local demand for China's yuan is soaring, while the ruble has pulled back from a massive rally.
Russia is importing Chinese goods at nearly the same rate as before Moscow's invasion of Ukraine, according to according to data from China's customs authority compiled by Bloomberg. In July, Russia...
Read more ...

 


Search by Tags

   Market      Markets      MI Exclusive      China      Russia      Moscow      Exports      Yuan      Ruble      Currency      Trade  


Ex-CIA officer says Putin is 'completely cornered' and the chances of him...

Russian President Vladimir Putin, right, and Russian Defense Minister Sergei Shoigu attend the launch of the construction of new nuclear submarines and other warships via video... Read more ...

Cooling Sun Belt markets lead canceled home contracts

More deals for homes are getting left out to dry in the Sun Belt than anywhere else in the United States. Some of the pandemic's hottest housing markets counted the highest... Read more ...

New poll signals Americans are growing tired of supporting Ukraine as the...

Ukrainian troops fire with surface-to-surface rockets MLRS towards Russian positions at a front line in the eastern Ukrainian region of Donbas on June 7, 2022. Aris... Read more ...

Former MoviePass executives sued by the SEC for making 'false or misleading...

Mitch Lowe and Ted Farnsworth. Getty / Dave Kotinsky / Stringer The SEC is suing former MoviePass executives Mitch Lowe and Ted Farnsworth. The suit claims they made "false and... Read more ...

Christian Wood Will Come Off The Bench For Dallas Mavericks During Contract...

"not really worried about who starts the game and more so concerned about who's finishing the game," Wood said. Read more ...

Meta Says It Disabled Extensive Russian Propaganda Operation

The efforts began in May and involved impersonating European news organizations, with articles that supported Kremlin viewpoints about the war in Ukraine. Read more ...

Wall Street opens higher a day after Dow entered bear market

NEW YORK - Stocks are opening solidly higher on Wall Street a day after the Dow Jones Industrial Average followed other major U.S. indexes in entering a bear market. The Dow... Read more ...

Commentary: Why the market vetoed the U.K.'s budget-and what it means for...

The U.K. economy is experiencing the worst of both U.S. and Eurozone problems, says BCG's global chief economist Philipp Carlsson-Szlezak. Read more ...

Japan can help ease Europe's energy crisis by restarting more nuclear power...

International Energy Agency Executive Director Fatih Birol. Anadolu Agency/Getty Images Re-starting nuclear power plants in Japan could help ease Europe's energy crisis... Read more ...

NBA And Microsoft Are Streaming Together In A Landmark Project For Both

It was time to rethink the National Basketball Association's digital strategy so the league is partnering with Microsoft on a revamped mobile app and a live-steaming service. Read more ...