Chongqing - On May 25, during the 6th Western China International Fair for Investment and Trade (WCIFIT) in Chongqing, Russia's leading Internet giant Yandex made its debut.

Yandex, often called "Russia's Google". (Photo/Getty Images)

Founded in 1997, Yandex has grown from a search engine to a giant offering over 90 services, including online shopping, taxi services, weather forecasts, and media streaming, serving over 300 million people in Russia and neighboring countries.

The Chongqing-Russia New Trade Trends Forum, a feature of the 6th WCIFIT, highlighted Yandex and its notable partners, such as QET, Yandex's inaugural agent in China, the Chamber of Commerce and Industry of the Russian Federation, and Whalet, a provider of digital cross-border payment solutions.

The forum was a key platform for analyzing the Russian market, offering Chinese foreign trade enterprises insights into the current China-Russia trade scenario and strategies to enter the market. Experts and business leaders discussed opportunities in the Russian-speaking market for 2024.

Chen Wei, president of the Chongqing International and Domestic Public Relations Association, highlighted the rising trend of Chongqing's foreign trade. "The enhanced convenience provided by the New International Land-Sea Trade Corridor (ILSTC), coupled with robust government policies, is magnetizing international business hubs to Chongqing," Chen said. 

Chen emphasized the forum's strategic timing, following Russian President Vladimir Putin's visit to China May 16-17, highlighting deepening economic ties between China and Russia.

Tang Rumeng, general manager of national products of Yandex & QET, introduced the QET 3.0 upgrades and discussed the platform's future. "QET is dedicated to furnishing Chinese enterprises with comprehensive solutions for customer acquisition through the Yandex search engine, enabling them to venture into the Russian market," said Tang.

Paco, operation director of the southwest China operation center of Yandex & QET, discussed market trends and popular Chinese exports to Russia and CIS countries, highlighting the potential for the Chengdu-Chongqing manufacturing sector to expand its reach.

Group photo of guests at the Chongqing-Russia New Trade Trends Forum. (Photo/WCIFIT)

The Chamber of Commerce and Industry of the Russian Federation, established in 2001 and extended to China in 2019, has helped Chengdu-Chongqing enterprises connect with the Russia Central Asia Project Resource Bank, expanding their market reach into Russia and Central Asia.

This forum has catalyzed multiple collaborative agreements between Chengdu-Chongqing enterprises and Russian platforms, promoting the regional industrial brands and further integrating them into the Belt and Road Initiative market via Chongqing's unique ILSTC advantage.