Russian Ambassador to China: the Chinese capital is in no hurry to Russia

BEIJING, 8 Dec. Zhanna Manukyan. The Chinese capital has not flooded into Russia after the introduction of Western sanctions and Chinese investors are in no hurry to do that, waiting for “worthy projects”, said in an interview with Russian Ambassador to China Andrey Denisov.

“Frankly, that did not come true hopes of those who thought that we were in no financial interaction with the West over the sanctions policy turn to the East, and we were immediately flooded with investment funds from China. This did not happen. Our Chinese partners approach the issues of providing financial resources very cautiously and carefully,” said Denisov.

“In any case, the conclusion is: the Chinese capital has not rushed into Russia after the departure of Western banks in order to fill this niche. While our Chinese partners are in no hurry to do so, saying that for them, it is about the quality of the projects. Projects will be worthy of the attention of our Chinese partners — will and cooperation,” he said.

The Russian Ambassador said that Russian business is “well aware”.

“…So the approach of our companies, including in the field of attraction of financial resources in China is, the experience of final year has become much more elaborate, deep, I would say, professional. So that there are no barriers there, and there are prospects. Although I would like to recall the saying of Mao Zedong, who once said: “the Prospects are bright, but the road is tortuous”, he added.

The head of the Russian Embassy in China added that sanctions against Russia by the West had a definite impact on enhancing bilateral economic cooperation, although this influence was not decisive. In General, according to the Russian Ambassador, a reversal of the Russian economy to the East is a reality. “In General, if we move away from the specifics of this year — and here sanctions and falling prices for raw materials, and a whole tangle of various monetary factors that affect trade, is a turn of our economy to the East is a reality. This is obvious and brings a positive result,” he said.

The full text of the interview is available on the website at 11:30 GMT