VTB quintuples Chinese supplier database to boost Russia-China 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 also showcased new solutions for cross-border trade. Julia Kopytova, VTB’s Senior Vice President, highlighted the importance of these developments for entrepreneurs. The EXPO, held from May 17 to 21, saw VTB acting as both an official sponsor and participant. There, the bank presented tools designed to simplify foreign economic activity between Russia and China. Consultations were offered on secure and profitable business operations, with a focus on compliance and efficiency.

The updated service now includes profiles of more than 2,500 Chinese companies seeking partnerships with Russian firms. VTB emphasised the need for speed, transparency, and accurate data in cross-border deals. Advanced end-to-end document verification was also introduced, ensuring full adherence to the legal requirements of both countries.

China remains a major trade partner for Russian businesses. VTB’s latest offerings aim to streamline connections between companies, reducing delays and improving reliability in transactions. The expansion of VTB’s supplier database and new verification technologies provide Russian entrepreneurs with faster access to Chinese partners. These updates are expected to enhance trade efficiency while maintaining compliance with regulations. The bank’s participation in the EXPO underscored its commitment to supporting Russia-China business relations.