Demand for Chinese-speaking executives could skyrocket

07.04.2022       

This is said by experts who associate this with the "pivot to the East". The deterioration of relations with the West sharply catalyzed the process of expanding cooperation with China, primarily in the field of the fuel and energy complex. The transition to trading in yuan begins. Russian coal, which Chinese companies purchased in Russia for yuan, was sent to China, Bloomberg. These are the first shipments of raw materials paid in yuan since how the United States and the European Union imposed sanctions on Russia and cut off a number of Russian banks from the international settlement system. Also, Chinese buyers were able to pay in yuan for Russian oil supplies. According to Bloomberg sources, the first batches of ESPO oil purchased for yuan will be delivered to China in May. Thus, China is realizing the desire to increase the use of the yuan in world trade, and sanctions against Russia contribute to this.
Experts expect the intensification of Chinese-Russian relations, and in this situation, Chinese companies will need Russian representatives. Despite the fact that Chinese companies are not very willing to hire local staff, which is different from Western ones, the growing contacts will force them to rely on Russians. At the same time, there are much fewer young professionals with knowledge of Chinese, than English-speaking ones, so the demand for them can grow a lot.