St. Petersburg restaurant finds opportunity in China

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Europe

02:12

Business exchanges between Russia and China are on the rise as ties between the two countries grow stronger. Besides for the growing trade volume, enterprises are seeking opportunities across the border.

Trade between Russia and China surpassed 84 billion US dollars in 2017, an increase of more than 20 percent from a year earlier, and it is expected to exceed the 100 billion US dollar mark this year, official data showed.

China has been Russia’s largest trading partner, accounting for 15 percent of Russian international trade last year, RT reported in April.

The growing momentum kept up in 2018 with a 30 percent year-on-year growth in the first quarter. The two sides aimed to boost trade to 200 US billion dollars by 2020.

In addition to trade, businessmen from the two countries are exploring new markets.

Andrey Shkilev, owner of Ketch Up Burgers, a popular restaurant in St. Petersburg, recently decided to expand his business to China.

“Over the past six months, we’ve been to China three times already. We see there are very good economic conditions,” he told CGTN on Tuesday.

He decided to open a restaurant in an industrial park for Russians in Xi’an, the eastern departure point of the ancient Silk Road, and also a hub linking countries on the Eurasian continent.

“In Russia, conditions are harder, first and foremost for financial reasons, due to western sanctions. Therefore everyone is looking for new ways of development for their business,” he said.

Under this condition, a free market without barriers, such as the one China has, is promising and worth pursing for him.

Meanwhile, Chinese businessmen in Russia also witnessed profound changes.

“The new links between China and Russia provide a good platform for all. It increases understanding and opens markets,” Zhang Chuhang, chairman of the St. Petersburg China-Russia Young Entrepreneurship Association, told CGTN on Tuesday.

(Yang Jing also contributed to the story.)