By the end of 2024, 11,300 Chinese companies and individual entrepreneurs were operating in Russia, a 41% increase over the year.
This information comes from the Foreign Intelligence Service of Ukraine.
The growth is driven by rising trade between Russia and China, along with strong demand for Chinese products amid a shortage of Western goods.
China has led in the number of registered foreign businesses in Russia since 2022. Between 2023 and 2024, the number of Chinese companies in Russia surged by 50%, with around 330 new businesses registered monthly. In comparison, 145–150 Belarusian, 40–45 Kyrgyz, and 30–35 Turkish entities are registered monthly.
Popular sectors for Chinese businesses in Russia include online retail, automobiles, and auto parts sales.
A key trend is the shift from wholesale trade to direct consumer sales, reducing the role of Russian intermediaries. The share of Chinese companies engaged in wholesale trade declined from 21% in 2023 to 18% in 2024.
The rising share of Chinese businesses reflects the redistribution of foreign presence in the Russian market following Russia’s full-scale war against Ukraine. However, China is not investing in Russian manufacturing but expanding market dominance with its products, further undermining Russian producers who struggle to compete in both quality and quantity.
