Atom and speech: Russia and China decided to invest in electric cars and online markets

Russia is in an active dialogue with China regarding investments by large Chinese companies in Russia, Kirill Dmitriev, head of the Russian Direct Investment Fund, told Izvestia. At the same time, countries began to invest in new areas. Among them are electric cars and electronic commercial platforms, the Ministry of Energy told Izvestia. Investments in the food industry and agricultural production are expected to increase. Given the potential return of Western brands to Russia, China has become even more interested in joint projects. See the Izvestia article about how the talks between Vladimir Putin and Xi Jinping gave a new impetus to the development of bilateral relations.

Russia and China are opening up new areas of cooperation

Russia and China have been cooperating fruitfully on the trade and economic track for a long time, including in the investment sphere.

— We absolutely see the dynamics, we are following our plans together with our Chinese partners. We are actively developing a dialogue on imports, on working with Russian brands, and on investments by large Chinese companies in Russia," said Kirill Dmitriev, head of the Russian Direct Investment Fund and Special Representative of the President of the Russian Federation for investment and economic cooperation with foreign countries.

Traditionally, Chinese businesses have invested in chemical production, infrastructure construction, mining, agriculture and mechanical engineering. Moreover, the countries are successfully finding new areas for joint investment activities, the Ministry of Economic Development of the Russian Federation told Izvestia.

— New growth points of Russian-Chinese investment cooperation are emerging. Initiatives aimed at the development of electronic commercial platforms and electric vehicles are being implemented," the ministry noted.

Both Russian (OZON, Wildberries) and Chinese (Aliexpress, JD.com The platforms are becoming more widespread in each other's domestic markets, explains Ekaterina Zaklyazminskaya, head of the Center for World Politics and Strategic Analysis at the Institute of China and Modern Asia of the Russian Academy of Sciences.

It is not surprising that the republic is beginning to diversify efforts in the automotive market in the context of cooperation with the Russian Federation, especially when the export of electric cars from China is hampered by high customs duties of the European Union and the United States. And this is even despite the drop in demand for Chinese cars in Russia — in 2025 they are still selling better than other types of passenger transport from China. The leading brands remain Zeekr, Evolute and Moskvich (in cooperation with the Chinese JAC).

— Taking into account the decrease in sales due to the increase in recycling fees, expensive loans and certain expectations for the return of Western brands, the interest of the PRC in joint projects is growing among Russians. In addition to the well-known Russian—Chinese initiative to create the Atom electric car, the republic is considering the possibility of localizing popular Chinese brands of electric vehicles (such as BYD)," the expert noted.

Back in 2024, it became known that the RDIF, the international corporation XY Group and JSC Kama, responsible for the Atom electric car project, agreed to attract Chinese investors, as well as on the possible localization of production in China. The collaboration on this project continues.

— We recently announced a joint investment in Atom and so on. So we're going according to plans," Kirill Dmitriev told Izvestia in May 2025.

Among the new promising areas of investment cooperation, for example, the construction of a power plant on the Moon in addition to the International Scientific Lunar Station (the agreement was ratified in 2024), as well as projects in the field of green energy and AI, Ekaterina Zaklyazminskaya noted.

The search for new areas for investment does not mean that the parties have reached the ceiling in traditional areas. An influx of Chinese investments in the food industry and agricultural production is expected in the coming years. Currently, these are two key areas that arouse the greatest interest of entrepreneurs from China, the National Coordination Center for International Business Cooperation (NCC) told Izvestia. The number of Chinese companies in the field of warehousing is growing against the background of changing logistics chains and deepening partnership with Russia in the field of electronic commerce. Many are looking for opportunities to buy or build transshipment bases, warehouses and port facilities on the territory of the Russian Federation.

The joint portfolio of Russia and China includes almost 90 projects worth $200 billion.

The recent meeting between Vladimir Putin and Xi Jinping, dedicated to the celebration of the 80th anniversary of victory in the Great Patriotic War, gave an impetus to investment cooperation. "Our Joint Statement with Mr. Xi Jinping sets ambitious goals. In particular, we are talking about ensuring significant, high-quality promotion of Russian—Chinese trade and investment by 2030," the Russian president said.

In particular, the ministers of relevant departments signed an updated Agreement on the promotion and mutual Protection of investments. As explained by the head of the Ministry of Economic Development Maxim Reshetnikov, the document is aimed at prohibiting discrimination against investors, compensating for damage caused as a result of expropriation of investments, and also provides dispute resolution mechanisms. Simply put, Russian businesses will be able to launch new investment projects based on more transparent and understandable conditions.

The Intergovernmental Russian-Chinese Commission on Investment Cooperation is mainly engaged in the development of investment cooperation with China. She is responsible for the implementation of the largest bilateral projects: new initiatives are reviewed every year. The commission's portfolio currently includes more than 80 proposals totaling more than $200 billion, covering a wide variety of regions and industries.

At the same time, partners from the republic could invest much more, but they are still afraid of secondary Western sanctions, says Sergey Lukonin, head of the Chinese Economic and political Sector at the Central Research Institute of the Russian Academy of Sciences. Although, in general, China openly condemns economic pressure on Russia. The republic's Foreign Ministry strongly protested the recently adopted 17th package of sanctions against the Russian Federation by the European Union. The ministry noted that Beijing will take the necessary measures to resolutely protect its legitimate rights and interests, and Brussels should stop applying double standards in matters of trade and economic cooperation with Russia.

Back in August, Moscow and Beijing updated their investment cooperation plan, so it's time to expect more impressive figures and projects. The relevant document was signed by the heads of government Mikhail Mishustin and Li Qiang. The industry areas have expanded significantly. This includes products with a high degree of conversion. These usually include machines, machine tools, equipment, and consumer goods, which China supplies to Russia in particular. China has long established itself as the main importer of industrial equipment and all types of machinery to Russia after a decline in the share of European products in recent years. However, this also creates certain risks for the domestic industry, which is forced to depend on a single supplier. Of course, our business has a lot to offer.

— Russian companies are working to adapt the supply chains of Russian products with the participation of Chinese partners through the creation of joint ventures. This practice is typical for a wide range of industries: from metallurgy and the chemical industry to financial services and scientific and technical cooperation, the Ministry of Energy told Izvestia.

The interest of Russian companies in the Chinese market is growing, among other things, due to an increase in the volume of trade in non-primary goods. At the end of last year, many companies from the Russian Federation opened their offices in China, including NLMK, PIK, and Ekoniva. Chinese investors are interested in launching joint ventures with Russian businessmen specializing in the supply of automobiles, electronics, construction equipment, and construction, the NCC noted.