Despite the official statements about the "unprecedented partnership" between Russia and China, the financial support from Beijing has declined sharply. According to the BOFIT Economics Institute, China's investments in the Russian economy have three times decreased - from $ 1.2 billion a year in 2011–2018 to only $ 400 million in 2022-2023.
This reduction occurs against the background of a general fall in foreign investment in the Russian real sector, which, according to the Central Bank of the Russian Federation, reached 57% since the beginning of a full -scale invasion of Ukraine. The total amount of such investments has decreased from $ 497.7 billion in early 2022 to $ 216 billion - at least since 2009.
China is in no hurry to replace Western investments. Beijing actually forbade his companies to invest in the Russian oil and gas sector. China's car concerns abandoned plans for the construction of plants in the Russian Federation, and the large-scale gas project "Siberia-2 power" was left without Chinese funding.
The latter significant Chinese investor in Russia - $ 360 million from Sinopec in the oil and gas industry - dates back to 2021, that is, before the full -scale war.
Experts explain such caution in Chinese companies with several factors: lack of legal guarantees, risks of asset loss and complexity of production adaptation to Russian conditions. Thus, Russia is increasingly losing confidence even from its formal partners.
