Senior Chinese legislator attends 7th China-Russia Small and Medium-sized Enterprises Forum

Li Hongzhong, vice chairman of China's National People's Congress (NPC) Standing Committee, attended the opening ceremony of the 7th China-Russia Small and Medium-sized Enterprises Forum held in Moscow and paid a visit to Russia's Irkutsk region from Wednesday to Saturday.

During his stay in Russia, Li, also a member of the Political Bureau of the Communist Party of China (CPC) Central Committee, also met with Valentina Matviyenko, speaker of the Federation Council of Russia, Ivan Melnikov, first deputy chairman of the State Duma, and Boris Titov, chairman of the Russian side of the China-Russia Committee for Friendship, Peace and Development.

Li, also chairman of the Chinese side of the China-Russia Committee for Friendship, Peace and Development, said that under the strategic guidance of Chinese President Xi Jinping and Russian President Vladimir Putin, the China-Russia comprehensive strategic partnership of coordination for a new era has maintained high-level development.

He added that China is willing to work with Russia to fully implement the important consensus reached by the two heads of state, elevating China-Russia relations to a new stage of higher quality, faster development, and greater achievements. The National People's Congress of China is willing to maintain close exchanges and strengthen experience-sharing with the Federation Council of Russia and the State Duma.

This year marks the start of China's 15th Five-Year Plan (2026-2030). Li said that China's high-quality development will provide new opportunities for small and medium-sized enterprises from all countries including Russia to expand business in China. The China-Russia Committee for Friendship, Peace and Development will continue to serve as the primary channel for people-to-people exchanges, and work to promote the quality and efficiency of mutually beneficial cooperation between small and medium-sized enterprises from the two sides, and to deepen friendship between the two peoples, carrying forward the enduring friendship between the two countries.

The Russian side noted that President Putin and President Xi have brought Russia-China relations to an all-time high, with vibrant political, economic and people-to-people exchanges between the two countries. The Russian side is willing to work with the Chinese side to deepen inter-parliamentary exchanges, enrich the bilateral practical cooperation, and advance the mutually beneficial cooperation across all sectors to a higher level.

During his stay in Russia, Li also visited the venue site of the 6th CPC National Congress in Moscow.

Senior Chinese legislator attends 7th China-Russia Small and Medium-sized Enterprises Forum

India, heavily reliant on China for electronic components, is seeking to strengthen its own manufacturing capacity by adopting technologies from its largest trading partner as the BRICS summit opens with trade cooperation high on the agenda.

As the BRICS summit gets underway, boosting trade within the bloc is a key focus. This year, China has become India's largest trading partner, with electronics making up a significant share of that trade.

Pramod Yadav, director of AD Net, has been selling cables, mobile and laptop accessories, and monitoring cameras in New Delhi's Nehru Place, where for decades Indians have come to buy, repair and upgrade their technology, for more than 20 years.

He has witnessed a shift from loose, unbranded imports brought in through grey channels to finished products and components supplied directly by major manufacturing hubs in China.

While India's electronics manufacturing sector is seeing increased investment and ambition, significant gaps remain to be addressed.

"We need to focus more on things like molding machines and components, such as ICs (integrated circuits) and chips, right here in India. We should learn from China -- observing how they manufacture these products and understanding their technology, so that we can then advance this sector in India," said Yadav.

India imports more than 10 billion U.S. dollar worth of electronic components from China each year, spanning key categories such as displays, batteries, PCBs and camera modules.

China also remains India's largest source of integrated circuits, with imports rising nearly 64 percent year on year.

India's own semiconductor mission is racing to close that gap. But observers say a faster way to strengthen manufacturing in the long run would be to ease restrictions on the transfer of machinery and technical know-how.

"I think what it should be that we should allow the machinery and technology come in without any duty and any customs problems. So rather than people importing those products, they can manufacture here. It will create employment. Let technology import freely and rather encourage it," said Mohammed Saqib, president of India-China Economic and Cultural Council.

India seeks China technology skills to strengthen electronics manufacturing