Barring war in Russia, Chinese exporters to keep seizing opportunity
- But in the wake of an aborted mutiny, buyers and sellers are keeping an even more vigilant eye on Russia’s political and economic situation
- Some say this could be the ‘best chance’ for China firms to fill the void left by Western brands in Russia
A digital print producer in Guangdong province, Liu said the reason is apparent, pointing to the “notable” increase in orders placed by Russian buyers so far this year.
Despite accounting for a small share, just 5 per cent, of his company’s total export sales, Liu said the potential of Russia’s market is too good to be ignored.
“We are paying close attention to the political and economic situation in Russia,” said Liu, co-founder of Xinflying Digital Printing Production, after seeing the firm’s overall export sales surpass 100 million yuan (US$13.85 million) last year.
“Many Russian customers have come to consult and placed new orders, and we expect orders from Russia will increase by two to three times from last year if there’s no internal disruption,” he said.
As Western countries have intensified sanctions against Russia for its invasion of Ukraine since February last year, Liu is among the Chinese manufacturers looking to capitalise on what he and industry insiders see as their “best chance” to expand and secure a lucrative foothold in their northern neighbour by filling the void left by Western brands, according to business insiders.