Dmitry Raev, counsel of the KKMP:

“Cultural differences when working with Chinese partners are largely related to communication styles. During remote negotiations on complex issues—whether by phone or online—you might receive a response along the lines of: ‘Yes, it’s agreed; we can move forward.’ But in practice, such a ‘yes’ does not always mean actual agreement... For Russian clients, this may not be obvious... As a rule, the actual position becomes clear during face-to-face meetings—in negotiations with Chinese partners and financial institutions. It is then that a flat 'no' is given on some issues, while agreements can be reached on others. It is important to take this factor into account when structuring the negotiation process."

Jiang Yun, Partner and Managing Director at Matrix:

“What concerns Chinese contractors? First and foremost, when they come to Russia, they don’t fully understand the requirements of Russian law. For example, how to operate within the framework of the Civil Code is a serious issue for them. That is precisely why Chinese contractors often choose FIDIC. It is the universal language of international engineering, understood by both parties. It helps minimize misunderstandings and reduces the number of potential disputes. The second important issue is the venue for dispute resolution. Lawyers in both China and Russia understand that national courts generally tend to favor their own market participants. Under such conditions, it is difficult to ensure a balance of interests. Therefore, in international contracts, the parties generally prefer to choose international arbitration centers. This ensures neutrality and a more objective resolution of disputes."

Zeyu (Chak) Peng, Head of the Chinese Law Practice at KPMG:

“Chinese law still lacks specific provisions directly regulating on-demand guarantees. The PRC Law on Guarantees explicitly excludes them from its scope of application, which complicates enforcement... At the same time, it is important to consider the status of non-bank financial institutions: guarantees may be issued not only by banks, but also by other institutions under the supervision of the China Banking and Insurance Regulatory Commission.”

Zhou Zhen, CFO of JSHT (Jiangsu Haitong Offshore Engineering Equipment Co):

“FIDIC contracts are often referred to as the universal language of international engineering... The key reason for their popularity among Chinese construction contractors is the balanced allocation of risks. Unlike traditional contracts, where a significant portion of the risks falls on the contractor, FIDIC clearly allocates responsibility between the client and the contractor. This reduces the number of disputes and increases the predictability of the project."

Nikolai Molchanov, Head of the Department for Relations with International Companies and Managing Director at Alfa-Bank:

“The main challenge for Chinese companies is that they do not yet always have a significant presence in Russia through large subsidiaries with a sufficiently active customer base. Consequently, it is more difficult for Russian banks to assume such risks. In this regard, several factors become key: the parent company’s willingness to provide support—for example, through counter-guarantees; the involvement of Chinese banks in the transaction structure; and, more generally, the ability to establish a multi-party structure. At the same time, the issue now often goes beyond guarantees alone. For clients, the question of financing the project as a whole is becoming increasingly pressing. Given high interest rates, this is becoming critical. We expect a slight decrease in rates, but even in that case, they will remain at around 13%. And Chinese contractors, when participating in tenders, often claim that they can secure cheaper financing."