The purpose of this study was to examine the influence of some factors on the inflow of foreign direct investment (FDI) from China to the Russian regions and their econometric estimation, the construction of a model of foreign trade of the Russian regions with China, and the econometric modeling of the impact of inflows of Chinese FDI on the foreign trade of the Russian regions and China.The methodology of the study. To achieve the purpose, on the one hand, models of independent multiple regressions were used, taking into account (models with fixed and random effects) and not taking into account (the combined regression model) a panel data structure. On the other hand, for the purpose of modeling the interdependence of investment and trade contacts between the regions of Russia and China, the apparatus of systems of econometric equations, namely the system of recursive and simultaneous equations, was used.Research findings. The findings have revealed that the Chinese investors are not interested in the resource endowment of the regions of Russia when localizing FDI. In addition, FDI flows from China are directed to the nearby regions of Russia. It was proved that Chinese partners conduct the most intensive trade with nearby and highly profitable (resource-rich) regions of the Russian Federation. The study also demonstrated the absence of a statistically significant relationship between the flows of FDI from China to the regions of Russia and the volumes of trade between the relevant regions with the China. In other words, China invests and trades with nearby regions of Russia, but divides them into two aggregates - for the purposes of trade and direct investment.Application of the results. These results determine the future direction of the scientific efforts in the analysis and modeling of the approaches of individual countries or group of countries in the implementation of FDI in the regions of Russia. It will help the governments of the Russian regions to promote the balanced and appropriate investment policy.