Chinese technology companies are suspending work in Russia amid US and supplier sanctions, despite calls from Beijing to counter foreign pressure.

According to The Wall Street Journal , citing its own sources, several large Chinese IT companies are cutting off supplies to Russia without announcing it publicly.

According to the publication, among such companies – a supplier of computer equipment Lenovo Group Ltd. and manufacturer of smartphones and electronics Xiaomi Corp ..

The WSJ notes that, unlike Western companies, Chinese businesses tend not to make official statements about their position on Russia’s war against Ukraine because of Beijing’s official position, which criticizes sanctions against Russia, although it insists on a peaceful settlement.

Only the large Chinese drone SZ DJI Technology Co. has publicly announced the cessation of operations in Russia and Ukraine.

According to official Chinese statistics, exports of technological products to Russia in March fell significantly compared to February. In particular, the supply of laptops decreased by more than 40%, smartphones – by almost 66%, telecommunications equipment – by 98%.

At the same time, the WSJ points out that the possibility of losing Western suppliers is another factor that puts pressure on Chinese companies. The largest semiconductor manufacturers in the United States, which supply components to Chinese companies, demand guarantees from Chinese customers that the final products with their components will not reach Russia.

The publication reminds that China has expanded its toolkit of measures to counter Western sanctions, in particular, the Chinese government may oblige local companies not to comply with foreign sanctions. However, so far Beijing has not used this opportunity. Джерело: https://biz.censor.net/n3339503

(C)CENSOR.NET 2022