According to Apollo News, China sees Ukraine as the hub of China’s century-long “Belt and Road” strategy into Europe and has invested heavily in the country, with projects ranging from subways and port terminals to wheat imports. However, all of these investments may have suffered significant losses in the war between Russia and Ukraine.

Since Russia launched its war against Ukraine on February 24, it has been bombing big Ukrainian cities such as Kharkiv and Odessa, the major cities where Chinese companies are investing in Ukraine.

In Kharkiv, the second-largest city in Ukraine, the latest bidder for the 40-car subway system was a Chinese company. As reported on on June 5, 2020, China’s CRRC Tangshan won the bid for the Kharkiv metro project.

The Chinese state-owned China Merchants Group even owns the port terminal in Odessa, an important city on the southern Black Sea coast. Besides, COFCO, a government-owned food giant, considers Ukraine a vital base.

Apollo News cites the Chinese Ministry of Commerce statistics that at least 30 Chinese companies, both state-owned and private ones, are engaged in business activities in Ukraine, with investments amounting to about $9 billion.

China is the largest trade partner of Ukraine, with a total trade volume of $19 billion in 2021.

The Russia-Ukraine war has also influenced Chinese traders by causing supply chain disruptions and affecting Chinese investments in Ukraine.

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