Journal section "Global experience"

Problems of Legal Support of Chinese-Russian Economic Cooperation

Ren Y.

Volume 16, Issue 1, 2023

Ren Yanyan (2023). Problems of legal support of Chinese-Russian economic cooperation. Economic and Social Changes: Facts, Trends, Forecast, 16(1), 253–265. DOI: 10.15838/esc.2023.1.85.14

DOI: 10.15838/esc.2023.1.85.14

Abstract   |   Authors   |   References
In recent years, the economies of China and Russia and their trade relations have withstood the global economic downturn and the pandemic tests. The volume of trade between the countries has exceeded the 100 billion USD mark for three years in a row. Cooperation has expanded from trade to investment, finance, energy, aerospace, high technology, high-speed railways, agriculture and other areas; from cross-border trade to major strategic projects where the economic interests of the countries are very closely intertwined. However, at the same time, there are certain problems in trade and economic cooperation between China and Russia, including a slowdown in the economic development of the two countries, flaws in the trade structure, system mechanisms, legal framework, etc. Alongside a slow recovery of the world economy and a rapid expansion of Chinese-Russian economic and trade cooperation, these problems hinder the free and favorable development of trade and economic cooperation between the two countries. The aim of the study is to examine the experience of the European Union and the North American Free Trade Area in the field of economic integration, especially the guarantees of the relevant legal systems in the field of trade and economic cooperation, and identify whether they can be useful for the development of Sino-Russian trade and economic cooperation. We show that by creating and improving the legal system, modernizing bilateral investment agreements, intensifying the study of free trade zones, strengthening the link between The Belt and Road Initiative and the Eurasian Union, as well as improving the cooperation mechanism of the BRICS countries, it is quite possible to provide legal guarantees of Chinese-Russian trade and economic cooperation. The main methods used in this work are empirical research, case analysis and comparative analysis


russia, china, Russia, China, economic cooperation, development status, constraints, legal protection

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