VTB assessed the money transfers of Russians to China

For cross—border transfers to China, 80% of the funds are spent by customers on car purchases, and 10% on personal accounts in China. The remaining 10% is accounted for by payments for personal goods, replenishment of brokerage accounts or expenses for participation in exhibitions and conferences, said Alexander Pakhomov, Deputy President and Chairman of the VTB Management Board, as part of the WEF-2025.

The cross-border transfer service allows you to pay for goods and services directly without intermediaries. Users can also transfer money to China by phone number to local electronic wallets.

"We understand how important the simplicity and speed of international transfers are for our clients today, whether it's buying a car, paying for services, or planning a trade relationship. Reducing fees and improving the yuan exchange rate is our contribution to making these operations as profitable and convenient as possible. We strive not just to provide financial products, but to build trusting relationships with each client, ensuring security, transparency and comfort in any financial matters," said Pakhomov.

Today, VTB's retail clients have access to more than 150 foreign destinations for transfers.