Russian entrepreneurs have increased their settlements with China

VTB noted the growing demand for direct payments between Russia and China. Since the beginning of the year, the bank's clients from representatives of medium and small businesses have increased the number of direct transactions with China by 56%.

"We see a growing demand for direct, reliable and fast payments between Russia and China. Our clients have increased the number of transactions with counterparties in China by more than 1.5 times," said Yulia Kopytova, Head of VTB's Analysis, Coordination and Product Development Department, Senior Vice President.

Against the background of growing demand, the bank continues to develop specialized products for working with the Chinese market, VTB stressed. In particular, the bank is working on the availability of transfers for businesses. Customers can also track the status of transactions for free at all stages, up to and including crediting to the counterparty's account in China. If necessary, the transfer can be revoked.

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