Participated in Russia MIMS exhibition in August

Name: MIMS Automobility Moscow

Address: Moscow Ruby Exhibition Center

Time: August 21-24, 2023

In recent years, the automobile industry is one of the fastest growing industrial sectors in Russia. With the strong support of high oil prices and relevant government policies, its automobile consumer market has expanded rapidly, and was once regarded as a rising star in Europe by the industry. Although the economic crisis has had an impact on the sales ratio of imported cars and domestic cars in favor of the latter, its sales ratio increased from 25.49% in the same period last year to 26.66% in the first half of the year, but foreign capital such as imported cars and assembled cars still dominates the Russian auto market. Dominance, occupying a major share of the market.

As one of the members of the "BRICS", Russia is becoming the new darling of the global auto industry after China and India. Its most notable feature is that more and more joint venture automobile factories have appeared or will soon appear on the territory of Russia. According to the latest regulations of the Russian government, overseas automakers need to submit investment plans to build factories in Russia to the Ministry of Economic Affairs in order to obtain preferential policies for minimum or zero import tax reductions for auto parts. This provision undoubtedly accelerated the influx of foreign capital. China's auto parts industry has a good market prospect in Russia with its advantages of high quality and low price, coupled with the good trade relationship between China and Russia.

According to Russian customs statistics, from January to November 2018, the bilateral trade volume between China and Russia reached 97.2 billion US dollars, an increase of 27.8% compared with the same period last year. Among them, Russia's total imports from China were 43.45 billion US dollars, an increase of 12%; Russia's total exports to China were 53.78 billion US dollars, an increase of 44.3%. Russia had a surplus of $10.33 billion. China is Russia's largest trading partner, and it is also Russia's largest export and import partner.

Tongshida Mold Co., Ltd. will arrive at the Moscow Ruby Exhibition Center on August 20, 2023, and will participate in the exhibition for 4 days from August 21 to August 24. Booth number: Hall 7.1, K.236. Welcome new and old customers to come to communicate and negotiate.