VTB talked about expanding the base of Chinese suppliers for Russian business

VTB's base of Chinese suppliers interested in working with Russian partners from the SME segment has grown fivefold in less than six months, said Yulia Kopytova, head of the bank's Analysis, Coordination and Product Development Department, Senior Vice President.

As part of the X Russian-Chinese EXPO held in Harbin, she noted that the database contains information about 2.5 thousand companies. These are suppliers who have already been tested and have experience in the Russian market. The largest share of companies from China represented on the platform are enterprises from the chemical and metalworking industries, manufacturers of equipment, electronics, and plastic products.

"China remains one of the main foreign trade destinations for Russian business. For entrepreneurs, the speed of reaching a counterparty, transparency and relevance of information about it, and reduction of cost and operational risks in international settlements are critically important. Therefore, we are developing services that allow businesses to find trusted partners faster and build stable relationships with Chinese companies," Kopytova said.

VTB became the official sponsor and participant of the exposition of the jubilee X Russian-Chinese EXPO. The event was held from May 17 to 21 as part of the Harbin International Trade and Economic Fair.