VTB reported a multiple increase in business settlements with China

The number of Russian business settlements in yuan increased sixfold in April 2025 compared to the same period last year. This was reported by VTB Bank.

"China remains a key market for Russian small and medium—sized businesses, which is accompanied by an increase in payments in yuan," said Yulia Kopytova, head of VTB's Analysis and Product Development Department.

The bank continues to develop specialized products for working with the Chinese market, VTB stressed. In particular, customers can track the status of transfers for free through the tracker payment service to China and, if necessary, revoke transactions in one click.

VTB is the only Russian bank with an operating branch in China. The Bank offers its clients' partners prompt account opening and personal support in Chinese, English and Russian. Entrepreneurs working with partners from China have access to real-time market quotes of the yuan, search and verification services for Chinese partners, document translations, customs and logistics support.

Since June 9, VTB has reduced the commission for transfers to VTB Shanghai for small and medium-sized businesses from 2.45% to 1.99%. The preferential rate will be valid until September 8, 2025. This is the second commission reduction in the last six months, which will allow entrepreneurs to expand foreign economic relations and optimize settlement costs within the VTB Group, the bank stressed.