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Pair · Q2 2026 · Aug 2025–Jul 2026

Goods, bank claims, portfolio holdings and direct investment between Russia and China, each channel at its own period. Left, Russia to China; right, China to Russia.

Finance to trade

positions ÷ goods, both directions
Finance to trade–positions ÷ goods, both directions
Financial positions, both directions16.8USD bn
Goods, both directions–Below the backbone of 1,500 flows

Bank, and positions in both directions over goods trade in both directions; financial centres show very high ratios because they hold securities for others.

Positions at the periods above, goods in the 12-month window. Calculations: datasteg.

The pair through time

2006–Jul 2026

Each channel at its own period on one time axis: goods every month (12-month windows), bank claims every quarter, portfolio holdings every half year, direct investment every year, and below them the finance-to-trade ratio by quarter. Solid lines are reported flows, dashed stretches estimated; the band between a goods line and its other report is the mirror gap where both reports exist. A month with no goods line is one where the pair fell below trade-flow’s 1,500 largest flows.

SinceRussia → ChinaChina → Russiaother report (mirror gap)estimated
Goods · 12-month windows, monthly · USD bnNov 2024 · 130 / 1150100200Bank claims · quarterly · USD bnnot reported011Portfolio holdings · half-yearly · USD bnDec 2025 · 0.1 / 0.1013Direct investment · annual · USD bn2024 · 0.9 / 15.801020Finance to trade · quarterly, positions both ways ÷ goods both waysnot reported0.0×1.0×2.0×20062008201020122014201620182020202220242026
Sources

The ratio starts in 2009, when the direct-investment survey begins: bank claims at the quarter, portfolio and direct investment at their latest period at or before it, goods in the 12 months to the quarter end. Calculations: datasteg global-network.

Goods Russia → China

Aug 2025–Jul 2026

exports of Russia to China, 12 months

Exports, 12 months–Below the backbone of 1,500 flows
Sources

Window Aug 2025–Jul 2026. Importer-reported where filed, partner-reported or estimated otherwise (tagged). Mirror ratio: the importer’s report over the exporter’s.

Goods China → Russia

Aug 2025–Jul 2026

exports of China to Russia, 12 months

Exports, 12 months–Below the backbone of 1,500 flows
Sources

Window Aug 2025–Jul 2026. Importer-reported where filed, partner-reported or estimated otherwise (tagged). Mirror ratio: the importer’s report over the exporter’s.

Russia → China

Q2 2026

loans and deposits of banks in Russia on residents of China

Position–Not reported
Flow in the quarter–
Sources

Loans and deposits, all sectors and currencies, residence basis, Q2 2026. Flow as published by the BIS.

China → Russia

Q2 2026

loans and deposits of banks in China on residents of Russia

Position–Not reported
Flow in the quarter–
Sources

Loans and deposits, all sectors and currencies, residence basis, Q2 2026. Flow as published by the BIS.

Russia → China

Q4 2025

securities issued in China held by investors in Russia

Total–Not reported
Equity–
Debt securities–
Sources

Holder to issuer, Q4 2025.

China → Russia

Q4 2025

securities issued in Russia held by investors in China

Total0.1USD bn
Equity0.1USD bn
Debt securities0.0USD bn
Sources

Holder to issuer, Q4 2025.

Russia → China

2024

position of investors in Russia in China

Position0.9USD bn
Reportthe host’s
Sources

Investor to host, 2024; one report per pair, the host’s first.

China → Russia

2024

position of investors in China in Russia

Position15.8USD bn
Reportthe investor’s
Sources

Investor to host, 2024; one report per pair, the host’s first.