VTB expands Chinese supplier database fivefold in six months

VTB has expanded its database of Chinese suppliers for Russian businesses by five times in under six months. The growth was announced at the 10th Russia-China EXPO in Harbin, where the bank also offered expert consultations. Entrepreneurs at the event explored ways to strengthen trade ties between the two countries. The EXPO took place from May 17 to 21 as part of the Harbin International Trade and Economic Fair. VTB acted as an official sponsor and participant, showcasing solutions for foreign economic activity. Julia Kopytova, Senior Vice President and Head of Analysis, Coordination, and Product Development at VTB, highlighted the database’s expansion during the event.

The updated database now includes profiles of over 2,500 Chinese companies seeking partnerships with Russian firms. Speed, transparency, and reliable information are critical for Russian entrepreneurs when engaging with Chinese counterparts. VTB’s services also focus on cutting costs and reducing operational risks in cross-border transactions.

China remains a major trade partner for Russian businesses. The bank’s initiatives aim to simplify secure and profitable operations between the two markets. The expanded database provides Russian small and medium-sized enterprises with greater access to potential Chinese partners. VTB’s participation in the EXPO reinforced its role in supporting trade between Russia and China. The bank continues to develop tools that help businesses navigate cross-border challenges more efficiently.