BEIJING: China’s yuan-denominated exports to Russia shrank at a faster pace in May than April, but the decline in imports slowed, Chinese customs data showed on Monday.
Outbound shipments to Russia fell 9.6% last month from a year earlier, following a 1.6% decline in April.
Imports from Russia fell 9.2% in yuan terms in May, improving from a 14.1% loss in April.
The EU announced new sanctions in May against Russia that target some Chinese firms. China opposed strongly the move and lodged a complaint with the EU, urging the bloc to stop applying “double standards” on economic and trade cooperation with Russia.
China’s exports likely slowed in May amid trade uncertainties
Bloomberg News reported on Friday that US President Donald Trump is holding back from pushing China to halt support for Russia’s war machine as he focuses on other issues in the relationship with its biggest geopolitical rival, citing US and European officials familiar with the matter.
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