Sber proposed the main directions for developing cooperation with China 09:06

Trade between Russia and China is expected to grow by 23% by the end of 2023, reaching a record level of $240 billion, but in the first half of 2024 the growth in this indicator will be only 2%. According to socialbites.ca correspondent, First Deputy Chairman of the Board of Sberbank Alexander Vedyakhin stated at a session at the Eastern Economic Forum that it is necessary to seek additional potential to unlock cooperation between the countries and thereby take relations to a new level.

According to him, cross-border trade is a good tool, but its scope is limited. Therefore, it is important to look for other ways of cooperation that can benefit Russia and China. Thus, the localization of Chinese manufacturers in Russia continues – first of all, we are talking about the automobile industry (60% of cars produced). In particular, Sber has invested more than 100 billion rubles in projects to localize Chinese cars in Russia. Vedyakhin considers agriculture to be another important example, because it is the main direction of exports of Russian agricultural products. In 2023, exports reached $ 9 billion and continue to grow at a strong pace.

Alexander Vedyakhin emphasized that joint work means not only delivery through large distributors, but also access to electronic trading platforms. The first deputy chairman of the Sber board of directors believes that this area has huge potential. Investment support also plays an important role: free economic zones are priority areas of development in both Russia and China.

Also, do not forget about the technological side of interaction. According to Vedyakhin, China is a recognized technology leader in the world, but Russia also has something to talk about with its Chinese colleagues. So, we can talk about large language models and other solutions in the field of artificial intelligence.

Previously Sber It was announcedHe prepared a guide for Chinese companies to enter the Russian market.