VTB quintuples Chinese supplier database to boost Russia trade ties

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 showcased its cross-border trade solutions. China remains a vital trade partner for Russian companies seeking reliable connections. The 10th Russia-China EXPO took place from May 17 to 21 as part of the Harbin International Trade and Economic Fair. VTB acted as both a sponsor and participant, offering consultations on secure business operations between the two countries.

At the event, VTB’s booth hosted experts from its Moscow headquarters and VTB Shanghai. They presented tools designed to speed up trade, cut costs, and lower risks for Russian entrepreneurs. Julia Kopytova, Senior Vice President and Head of Analysis, Coordination, and Product Development at VTB, highlighted the importance of transparency and quick access to verified Chinese partners.

The bank’s updated service now includes profiles of over 2,500 Chinese firms looking to collaborate with Russian businesses. For small and medium-sized enterprises, having current data on potential partners is seen as essential for smooth cross-border deals. The expanded database reflects VTB’s push to strengthen trade ties between Russia and China. Russian businesses gain faster access to verified suppliers, reducing delays and financial risks. The bank’s role at the EXPO underscores its focus on supporting cross-border commerce.