Correct, technically it's in a Norwegian special area. By land ownership and ethnically, the second biggest town in Spitsbergen (Barentsburg) is exclusively Russian, as is newly revived Pyramiden.

Now there is a Chinese billionaire & arctic explorer entering Spitsbergen: Huang Nubo wants to build the first luxury hotel (German article). I hope he teaches the locals a lesson for this much needed upgrade of the island, but no doubt he will initially receive a xenophobic welcome ("exploitation").