China is ready to remain a reliable partner of Ukraine and to expand mutually beneficial cooperation between the two countries, said Ma Shenkun, Ambassador of the People’s Republic of China to Ukraine.
“The economies of China and Ukraine are highly complementary, so cooperation between the two countries has broad prospects. China is ready to be a reliable partner of Ukraine. We are committed to further expanding mutually beneficial cooperation, bringing greater benefits to the peoples of both countries, and jointly opening up new prospects for the development of China-Ukraine relations,” the ambassador said during a reception in Kyiv marking the 77th anniversary of the founding of the People’s Republic of China.
The event was attended by Ukraine’s Deputy Minister of Foreign Affairs Yevhen Perebyinis, as well as representatives of the diplomatic corps, Ukrainian government and civil society organizations, the business community, and the Chinese community.
Ma Shengkun noted that 2026 will mark the 15th anniversary of the establishment of the China-Ukraine strategic partnership, and in 2027, the two countries will celebrate the 35th anniversary of the establishment of diplomatic relations.
According to him, China has remained Ukraine’s largest trading partner for many years and is one of the main sources of Ukrainian imports.
The ambassador highlighted the development of bilateral trade in agricultural products. Specifically, in 2025, Ukraine and China signed protocols opening opportunities for the export of Ukrainian peas and wild-caught aquatic biological resources, and in 2026, they signed a protocol regarding the export of Ukrainian wheat flour to China.
“This creates a solid foundation for the further expansion of Ukrainian agricultural exports,” noted Ma Shenkun.
Speaking about the state of the Chinese economy, the diplomat reported that China’s GDP in the first half of 2026 reached 69.6 trillion yuan, an increase of 4.7% compared to the same period last year.
According to him, China intends to continue developing high-tech manufacturing, new energy, artificial intelligence, robotics, and innovative pharmaceuticals, while simultaneously opening its economy further to the outside world.
Ma Shengkun also addressed Beijing’s position on the war in Ukraine. He stated that China advocates for a political settlement and the continuation of diplomatic efforts.
“China will continue to stand firmly on the side of peace and support all efforts that promote peace. In turn, China will continue to play a constructive role in facilitating the swiftest possible ceasefire and cessation of hostilities and, ultimately, the achievement of a peace agreement,” the ambassador stated.
He noted that nearly two years of work in Ukraine have convinced him that the Ukrainian economy has significant potential for further development and cooperation with China.
A significant portion of the ambassador’s speech was devoted to the achievements of the PRC’s 77-year development. Ma Shengkun noted that China has become the world’s second-largest economy, a global leader in the volume of merchandise trade, and one of the main trading partners of more than 160 countries and regions.
The diplomat also stated Beijing’s intention to continue international cooperation within the framework of the “Belt and Road” initiative, which, he said, has been joined by over 150 countries and more than 30 international organizations, with the number of infrastructure and industrial projects currently underway exceeding 4,000.
According to a study by the Experts Club think tank, China ranked first among Ukraine’s largest trading partners in the first half of 2026. Trade between the countries totaled approximately $14.68 billion, including imports of Chinese goods to Ukraine of about $13.9 billion and Ukrainian exports to China of about $778 million. China accounted for about 21.9% of Ukraine’s total trade with its 50 largest trading partners and 29.4% of imports from this group of countries. At the same time, Ukraine’s trade deficit with China amounted to approximately $13.12 billion. Experts Club study on Ukraine’s largest trading partners in the first half of 2026
According to data from the State Customs Service, this trend continued in January–August 2026: China remained the largest supplier of goods to Ukraine, with imports totaling over $19.6 billion.
The People’s Republic of China recognized Ukraine’s independence on December 27, 1991, and diplomatic relations between the two countries were established on January 4, 1992. The Embassy of the People’s Republic of China in Kyiv began operations in 1992. That same year, the Embassy of Ukraine in Beijing began operations. In 2011, Ukraine and China established a strategic partnership.
According to Experts Club, the implementation of transportation projects under the “One Belt, One Road” initiative could boost trade among countries along the relevant corridors by 2.8–9.7%, said Chinese Ambassador to Ukraine Ma Shengkun, citing a World Bank study.
As the diplomat wrote in a column on the Interfax-Ukraine website, according to estimates by the World Bank and other international organizations, the development of infrastructure connectivity contributes to the expansion of trade and the reduction of poverty in countries participating in the initiative.
In particular, if transportation projects are fully implemented, travel time along the relevant corridors could potentially be reduced by up to 12%, global trade could increase by 1.7–6.2%, and global real income could rise by 0.7–2.9%.
As examples of infrastructure projects, the ambassador cited the China–Laos Railway and the Jakarta–Bandung high-speed rail line in Indonesia.
According to the data he provided, by the end of 2025, the China–Laos Railway had carried out over 64 million passenger trips and transported over 74 million metric tons of cargo. The range of goods transported exceeded 3,800 items, and the transportation network spanned 19 countries and regions.
The Jakarta–Bandung high-speed railway, which began commercial operations in October 2023, had transported more than 16.58 million passengers by July 2026.
As previously reported, China remains Ukraine’s largest trading partner. According to an analysis by Experts Club, Ukraine’s trade turnover with China in January–June 2026 reached $14.68 billion, with $13.9 billion accounted for by imports of Chinese goods and $778.4 million by Ukrainian exports.
According to data from the State Customs Service of Ukraine, imports from China exceeded $19.6 billion in January–August 2026—significantly more than from Poland ($6.3 billion) and Germany ($4.4 billion), which ranked next among the largest suppliers of goods to Ukraine.
A study by Experts Club and Active Group dated September 18, 2026 notes a significant gap between the scale of Ukraine’s economic interaction with China and the structure of bilateral trade: China remains the country’s largest trading partner, yet Ukrainian exports to the Chinese market lag significantly behind imports.
According to Experts.news, China’s foreign trade in goods reached 45.47 trillion yuan in 2025, up 3.8% from the previous year, said Ma Shengkun, China’s ambassador to Ukraine.
“In 2025, the total volume of China’s imports and exports of goods reached 45.47 trillion yuan, an increase of 3.8% year-over-year.
Imports totaled a record 18.48 trillion yuan,” the diplomat wrote in his column on the Interfax-Ukraine website.
According to him, China has remained the world’s second-largest import market for the 17th consecutive year and is the main trading partner for more than 160 countries and regions.
The ambassador also noted that in 2025, China’s imports from the least developed countries increased by 9%, while imports from Asia rose by 3.9%, from Latin America by 4.9%, and from Africa by 6%.
Ma Shengkun highlighted the growth of the high-tech segment of Chinese exports. According to the data he cited, exports of high-tech products reached 5.25 trillion yuan in 2025, an increase of 13.2%.
In particular, total exports of electric vehicles, photovoltaic products, and lithium batteries—referred to in China as the “new trio” of export goods—rose by 27.1%.
As previously reported, China remains Ukraine’s largest trading partner. According to a study by the Experts Club information and analytical center, Ukraine’s trade turnover with China reached $14.68 billion in the first half of 2026, including $13.9 billion in imports of Chinese goods and $778.4 million in exports of Ukrainian goods to China. China accounted for 21.9% of Ukraine’s total trade with its 50 largest trading partners.
According to the latest data from the State Customs Service of Ukraine, in January–August 2026, China retained its top position among suppliers of goods to Ukraine, with imports exceeding $19.6 billion. Ukraine’s total imports during this period amounted to nearly $66.3 billion, while exports totaled over $26.6 billion.
A joint study by Experts Club and Active Group published on September 18 also noted that China remains Ukraine’s largest trading partner; however, Ukrainian exports to the Chinese market lag significantly behind imports from China.
Direct non-financial investments by Chinese companies in countries participating in the “Belt and Road” initiative reached $39.67 billion in 2025, a 17.6% increase from the previous year, according to Ma Shengkun, China’s ambassador to Ukraine.
“Through direct investment, project contracting, and development financing, China has contributed to improving local infrastructure, modernizing industry, and raising the standard of living,” the diplomat wrote in a column on the Interfax-Ukraine website.
According to the data he cited, Chinese investment in Africa grew by 41% in 2025.
Chinese companies have established overseas trade and economic cooperation zones in 46 countries, with total investment in these zones approaching $80 billion.
As an example of industrial cooperation, Ma Shenkun cited a project by the Chinese battery manufacturer CATL in Indonesia. It involves establishing a complete production cycle for traction batteries—from the extraction and processing of nickel and the production of battery materials to the manufacturing and assembly of finished batteries.
According to data cited by the ambassador, the total volume of China’s direct non-financial foreign investment in 2025 reached $145.66 billion.
Ma Shengkun also cited World Bank estimates, according to which the full implementation of transportation projects under the “Belt and Road” initiative has the potential to reduce transit times along the relevant corridors by up to 12% and increase trade among countries located along them by 2.8–9.7%.
As previously reported, China is Ukraine’s largest trading partner. According to calculations by the Experts Club information and analytical center, trade between the two countries in the first half of 2026 totaled $14.68 billion. At the same time, Ukraine imported $13.9 billion worth of Chinese goods and exported $778.4 million worth of goods to China, resulting in a trade deficit of $13.12 billion.
China accounted for 21.9% of Ukraine’s trade with its 50 largest partners and 29.4% of imports from this group of countries. Trade with China accounted for approximately 47.3% of Ukraine’s total trade deficit with its top 50 partners.
According to the State Customs Service, from January through August 2026, imports of goods from China to Ukraine had already exceeded $19.6 billion, maintaining China’s position as the top supplier to the Ukrainian market.
China’s role in Ukraine’s foreign trade is analyzed in more detail in a study by Experts Club and Active Group, published on September 18, 2026.
Astana and Beijing signed 50 commercial agreements totaling $8.2 billion during the “Kazakhstan–China” investment forum in Almaty, according to the press service of the President of Kazakhstan.
In particular, an agreement was signed on the construction of an electrolytic aluminum plant and an accompanying wind power plant in the Abai region (Eastern Kazakhstan), as well as on the construction of a particleboard plant in Semey (Semipalatinsk). The document was signed by the regional governor and a consortium of companies comprising Xinjiang Sanbao Industrial Group Co., Ltd. and Inner Mongolia Wanjiang Investment Co., Ltd.
An agreement on joint project development was signed between Samruk-Energo JSC, China Energy Overseas Investment Co., Ltd., and SANY Renewable Energy Co., Ltd.
In addition, a document outlining the basic terms for establishing a specialized investment fund—focused on financing promising projects in Kazakhstan—at the Astana International Financial Center was signed between JSC “NC ‘Kazakh Invest’” and Silk Road Finance Corporation.
An agreement on cooperation in the construction of wind power plants with a total capacity of 450 MW in the Akmola Region was concluded between the regional administration and Sungrow Renewable Development Co., Ltd.
A memorandum of understanding regarding the implementation of the project “Creation of a High-Tech Automobile Manufacturing Complex for the Production of Passenger and Special-Purpose Vehicles” was signed between the administration of the East Kazakhstan Region and the Kazakh-Chinese joint venture East Motors Corporation.
In addition, cooperation agreements were signed between the Turkestan Region and Turan Chemical Company LLC regarding the construction of a urea fertilizer plant.
An agreement on cooperation in organizing and supporting the issuance of dim sum bonds on the Hong Kong Stock Exchange (HKEX) was signed between the Mayor of Almaty and Guotai Junan Securities (Hong Kong) Limited.
An agreement was signed for the construction of a multifunctional complex featuring an international-brand hotel and a business center between the mayor of Almaty, Everest Development, and SunnyWorld Group.
An agreement was concluded on the preliminary terms for financing investment projects in priority economic sectors between the Development Bank of Kazakhstan and the Astana Branch of China Construction Bank Corporation.
India continues to strengthen its position as the world’s second-largest steel producer and is gradually closing the gap with China, according to data from the World Steel Association (Worldsteel) published on September 24, 2026.
From January through August 2026, Indian steelmakers produced 115.9 million metric tons of steel, a 6% increase compared to the same period last year. During the same period, China’s production fell by 3.1% to 651.9 million metric tons.
According to Open4Business calculations based on Worldsteel data, India produced approximately 109.3 million metric tons of steel in the first eight months of 2025, while China produced approximately 672.8 million metric tons. Thus, the absolute gap between the two largest producers over the year narrowed from approximately 563 million to 536 million metric tons, or by nearly 5%.
The ratio of production volumes is also shifting in India’s favor. While China produced about 6.2 times more steel than India from January through August of last year, that figure fell to about 5.6 times in 2026.
This trend continued in August. India increased its steel output by 4.6% year-over-year—to 14.8 million metric tons—while production in China fell by 3.7%—to 74.6 million metric tons. (World Steel Association)
India also more than doubles the output of the United States, which ranks third among the world’s largest producers. U.S. steelmakers produced 57.5 million metric tons of steel from January through August, increasing output by 5.5%. Japan produced 54 million metric tons, Russia—43.8 million metric tons, and South Korea—42.8 million metric tons.
Thus, India’s output over the eight-month period is already roughly double that of the U.S. and more than double that of Japan.
India accounted for about 9.5% of all steel produced by the 70 countries that provide statistics to Worldsteel, while China’s share was about 53% and the U.S.’s was about 4.7%. These 70 countries accounted for approximately 98% of global steel production in 2025.
The difference is particularly noticeable against the backdrop of the industry’s overall stagnation. From January through August, global steel production fell by 0.7% to 1.225 billion metric tons, while India continued to show steady growth. In August, global production declined by 1.2% year-over-year to 144.2 million metric tons.
Vietnam remains another fast-growing Asian producer. Over the eight-month period, it increased its output by 29.1%—to 20.6 million metric tons—with growth reaching 36.4% in August alone. Overall, however, steel production in Asia and Oceania has declined by 0.9% since the beginning of the year—to 906.4 million metric tons—primarily due to trends in the Chinese market.
China, meanwhile, maintains a huge lead and remains the undisputed leader in the global steel industry. However, the diverging trends of the two largest producers indicate a gradual increase in India’s share of the global steel industry.
Original source: World Steel Association — August 2026 crude steel production
