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7 September 2016
China News
Russian bank executives: G20 summit is expected to promote the Sino-Russian trade and investment opportunities.

VTB executives told China news agency reporters the bank plans to strengthen cooperation with China and that the upcoming G20 summit is expected to promote the Sino-Russian bilateral trade prices and increased investment opportunities.

G20 summit in Hangzhou, China was held on September 4-5. Neil MacKinnon, Global Macro Strategist at VTB Capital, said in an interview with China News agency that “key market players are seeing a rising demand for trade and export finance services in China spanning a range of different industries, including transport, infrastructure, metals and mining, oil and gas, energy and retail”.

Neil MacKinnon thinks that G20 summit held in China will cover these areas, including the Sino-Russian cooperation in the future to produce "a very positive impact ",  and expects “a significant increase of trade and investment flows between these countries and will also boost Russia-China financial cooperation in general terms”.

During the Eastern Economic Forum, VTB’s Deputy President and Chairman of VTB Bank Management Board Herbert Moos told China News agency reporters that the bank is looking to strengthen cooperation with Chinese partners and that the development of business relationships with Chinese partners is a major priority for the bank. In fact, in the past year and a half, VTB has managed to develop a full-scale interbank infrastructure in China and provides " the most extensive economic services for foreign trade and commercial cooperation between China and Russia."

Herbert Moos noted a remarkable fact that today’s true international financial system cannot be sustained without China's participation. VTB hopes to further for the future expansion of its Chinese presence through development of product platform for global and commodities markets, including foreign exchange and hedging operations with local companies, as well as access to the local capital market. This should also provide new impetus to the growth of Sino-Russian trade.

Neil MacKinnon believes there is a huge potential for cooperation between China and Russia in a various industries, including finance, and the G20 summit will outline areas of mutual interest.

VTB was established in 1991, currently the bank set up a branch in Shanghai, China. Data shows that VTB occupies an 86% share of the Chinese market ruble/RMB exchange business.
Corporate Communications VTB Capital