Several major Chinese technology companies have reportedly cut supplies to Russia, according to sources. These include computer giant Lenovo Group Ltd and smartphone and gadget maker Xiaomi Corp. Xiaomi sold the second largest number of phones in Russia last year, but has now cut supplies to the country.
But these companies have yet to make these business decisions public, as Beijing has opposed the crippling Western sanctions imposed on Russia.
While Russia hoped China could provide a lifeline for trade, while the West severed ties, the dream seemed to be fading.
China’s exports of technology products to Russia fell from February to March, with laptop shipments cut by more than 40 percent.
Smartphone shipments were also cut by nearly two-thirds.
And exports of telecommunications base stations have fallen by a staggering 98 percent, according to the latest available Chinese government trade data.
These companies have yet to make these business decisions public, as Beijing has opposed the crippling Western sanctions imposed on Russia.
China’s Ministry of Commerce last month blamed Western sanctions for disrupting China’s trade with Russia.
But he urged companies “not to be subjected to external coercion and not to make inappropriate external statements”, explaining his silence.
This came after the United States threatened to punish China if it undermined its broad financial sanctions or export controls imposed on Moscow.
China, in return, accused the United States of creating “fear and panic” with its sanctions and even said the United States was fueling tensions by providing weapons to Kyiv.
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This comes after China reportedly ordered a “stress test” to assess what would happen if Russian-style Western sanctions targeted its own economy.
Extensive exercises were reportedly launched in late February and early March after the West imposed harsh sanctions on Russia.
A source familiar with the matter said: “Those involved in this exercise use the way Russia has been treated as a starting point for China’s own political response, if the West treats it the same way.
“This stress test includes a number of methodologies, including modeling.
Chinese analysts also told Beijing’s state-run media, The Global Times, that Russia has “a strong capacity and resilience to withstand US and EU sanctions.”
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