“The company’s stock price has seriously deviated from the fundamentals
,” 公司 说过 Tuesday in an exchange filing
. “We specifically remind investors to pay attention to the transaction risks and make rational decisions.
Shares in Jinzhou Port pulled back 10% 星期二, but are still up 74% in two weeks.
Xinjiang Tianshun Supply Chain — a logistics company for bulky goods in far northwestern Xinjiang, which directly shares a 60-mile border with Russia — has also jumped 95% on the Shenzhen Stock Exchange over the past seven sessions.
Even toll road operators and rail freight service firms have surged since the war began. Heilongjiang Transport Development, a main operator of highway tolls in northeastern Heilongjiang — which shares a 1,850-mile border with Russia, has climbed 23%.
Changjiu Logistics, whose parent firm operates direct freight trains between northeastern China and Russia, also jumped 23% during the same period.
“Some Chinese investors believe that Russia now has no one else to turn to but China,” said Hao Hong, managing director and head of research at BOCOM International. “So they believe that China stands to gain from its trade with Russia.”
It looks “quite possible” that some trade between China and Russia will increase following Western sanctions on Russia, especially in commodities, 他加了.
“China needs commodities and Russia may have to sell it cheap,” Hong said. “One ancient Chinese idiom is that when two clams fight, the fisherman stands to benefit.”
上月下旬, China lifted restrictions on imports of Russian wheat
, a move that could address food security concerns in the world’s second largest economy
The decision to allow imports of wheat from all regions of Russia was made during Russian President Vladimir Putin’s visit to Beijing in early February
. During his visit
, the two countries signed 15 交易
, including new contracts with Russian energy giants Gazprom and Rosneft
Who is behind the frenzy?
The rally is being driven by small retail investors, who make up more than 80% of China’s stock market turnover, according to data from Shanghai and Shenzhen stock exchanges.
Purchase orders of less than 40,000 yuan ($ 6,338) worth of stocks, or fewer than 20,000 分享, account for about 40% of the money flowing into the Sino-Russian trade sector, according to Chinese financial data service East Money Information on Tuesday.
Medium-sized orders that are below 200,000 yuan ($ 31,692) 要么 100,000 shares make up about 36%.
Despite the enthusiasm shown by small traders, experts warn that it is too early to bet on increased trade between Russia and China. Beijing has not rushed to help Russia after its economy was slammed by sanctions from all over the world, and will be wary of risking its much bigger trading links with Europe and the United States.
而 China has refused to condemn Russia’s invasion outright
, some Chinese banks have reportedly restricted financing for purchases of Russian commodities
, in fear of violating potential sanctions
. 上个星期, the Asian Infrastructure Investment Bank
, a development bank backed by Beijing
, 说过 it was suspending all its activities in Russia as
“the war in Ukraine unfolds.
Experts tell CNN Business that small investors in China might be unaware of the long-term implications of Western sanctions.
有一个 “disconnect between a legion of retail investors operating in a limited information environment, and the government’s limits to friendship with Russia,” said Jeffrey Halley, senior market analyst for Asia Pacific at Oanda.
“明显地, the man on the street believes that China-Russia trade will not be impacted by ‘American’ 制裁, especially in light of the recent ‘deep’ partnership agreement between the two countries,” 他说.
“不幸, China also does a huge amount of business with the rest of the world, and there may be limits to even China’s diplomatic largesse,” 他加了.
The trade between the two nations reached
$ 147 billion last year
, 根据来自的数据 Chinese customs
. The world’s second largest economy is Russia’s No
. 1 trading partner
, accounting for
16% of the value of its foreign trade
But for China, Russia matters a lot less: Trade between the two countries made up just 2% of China’s total trade volume. The European Union and the United States have much larger shares, accounting for 13.7% 和 12.5% 分别, according to Chinese customs statistics for last year.
China also faces its own economic challenges, which could make it harder for Beijing to significantly boost trade with Russia.
Chinese Premier Li Keqiang 说星期六 that the country would target GDP growth of about
5.5% 今年, the lowest official target for economic growth in three decades
. A weak property market
, renewed Covid-19 outbreaks
, and Beijing’s zero-tolerance approach to the virus are hurting domestic demand and production
“在我看来, betting on a significant pick-up on China-Russia commodity trade could end in tears,” said Stephen Innes, managing partner at SPI Asset Management.