Aug 24, 2026
VTB Launches Payment Option with China with Commission from 0.2%
VTB has introduced a special "Chinese Fast and Furious" (Kitayskiy Forsazh) option for new small and medium-sized enterprise (SME) clients conducting foreign trade operations with Chinese companies.
Program ConditionsParticipants will be able to pay for contracts with partners from the PRC with a commission starting from 0.2%. The bank will also provide a special exchange rate for purchasing Chinese yuan. The option can be activated until October 15, with the preferential terms valid until December 30.
Growing Demand for the Chinese MarketVTB has recorded an increased interest from entrepreneurs in working with the Chinese market. In June, the volume of contracts between the bank's SME clients and companies from the PRC grew by 53% year-on-year."China remains Russia's largest foreign trade partner. We are expanding our suite of solutions that help entrepreneurs find reliable suppliers and enter the Chinese market," said Yulia Kopytova, Head of the Analysis, Coordination, and Product Development Department, and Senior Vice President of VTB.
Additional Bank ServicesThe available tools include a free database of suppliers from the PRC, verification of Chinese counterparties, and support for foreign economic activities. The bank also offers opening accounts for foreign partners at VTB Shanghai and end-to-end currency control.
For the Chinese food market, the launch of the VTB program lowers barriers for Russian food importers. A lower commission and a special exchange rate for purchasing yuan make settlements with Chinese food producers and suppliers more accessible for small and medium-sized businesses. This could facilitate an increase in orders for food products, ingredients, and finished goods from the PRC.
At the same time, the preferential terms are valid for a limited period and are only available to new clients, meaning some Russian importers will not be able to use the option. It is advantageous for Chinese food exporters to offer their products to Russian buyers who are just starting to work with the PRC and to assist them in setting up payments through VTB.
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