Russian companies to expand presence on Chinese market using e-commerce

BEIJING, June 15. /TASS/. Online trade platforms will enable Russian companies to boost exports and expand presence on the Chinese market, Trade Representative of the Russian Federation in the People’s Republic of China Sergey Iniushin told reporters on Monday.

“Russia’s small and mid-sized businesses should not fight their way to the Chinese market separately. Future belongs to expansion of Russia’s presence on the Chinese market with the help of large e-commerce operators that would start conducting logistics operations primarily in the Chinese direction, meaning that they would supply Russian products to China,” he explained.

The Russian side keeps in close touch with Alibaba and assumes that the cooperation has good future prospects, Trade Representative said. “The issue is about large market participants that know how to quickly deliver goods to consumers. They are familiar with the habits of the ultimate consumer,” he said, adding that the mission “focuses much on that area, encouraging Chinese operators to supply not only from the People’s Republic of China, but in the opposite direction as well.”

Amid this background, the issue of creating “a full-fledged Russian bank” in China is becoming increasingly relevant, Iniushin said. “When we speak about the targeted trade turnover of $200 bln, the necessity to establish in the People’s Republic of China our own banking structure able to solve problems related to mutual settlements arises. A Russian bank like that will also have the functions of providing support to clients, it will help the participants of international economic activities,” he noted.

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