Prospects for Economic Development Discussed at an Online Conference at INRTU

The international scientific and practical conference “Russia–China: Prospects for Economic Development” was held on February 6 at the School of Economics, Management and Law of Irkutsk National Research Technical University (INRTU). The event brought together students, postgraduate researchers, scholars and faculty members, as well as representatives of government institutions and business communities from Russia and China.

The conference featured over 70 scientific presentations, with 32 of them prepared by students from China.

The event was organized by Sergei Zakharov, Deputy Director for Foreign Affairs of the School of Economics, Management and Law, and Xu Linchun, Assistant Director for Foreign Affairs (China direction).

The conference aimed to examine economic cooperation between Russia and China under current conditions, while also exploring contemporary economic processes and trends in both countries.

Reports covered topics such as "Customs Cooperation, Standardization, and Certification between Russia and China", "Joint Development of Arctic and Maritime Routes: Economic, Legal, and Logistical Aspects" and "Russia-China Cooperation in the Energy Sector".

One notable report was delivered by fourth-year student Anastasia Kondakova, majoring in International Economics and Business. Her research explores the correlation between global energy price fluctuations and the adaptation strategies of Russian fuel and energy companies. Based on recent data from 2024 and the first months of 2025, the study analyzes exporters’ responses to price volatility driven by geopolitical factors and structural shifts in global markets.

According to Anastasia Kondakova, the fuel and energy sector has historically formed the backbone of Russian exports and remains a key source of foreign currency revenues. However, under current conditions its performance is shaped less by production volumes than by the highly volatile environment of global commodity markets.

A presentation on the prospects for the development of the services market in the context of digitalization, using China and Russia as case studies, was delivered by master’s degree student Evgeny Kodrenko, majoring in Economics and Management in International Business.

The paper focuses on a comparative analysis of the transformation of the services market under the influence of digital technologies in China and Russia. It examines key trends, investment volumes between 2015 and 2025, and sectoral growth dynamics. Particular attention is paid to the factors behind the more extensive and in-depth development of digital services in China. The study also outlines prospects for the services market in both countries and assesses the potential for bilateral cooperation.

According to Evgeny Kodrenko, China and Russia demonstrate different models of digital development in the services market, shaped by differences in institutional frameworks, investment policies and the role of the state in the economy.

All participants received certificates. A collection of conference papers will be published following the online event.