Chinese and Russian technology companies plan to jointly launch an e-commerce platform which aims to promote the cross-border trading between China and Russia. Russian online payment system Yandex.Money will start handling payment services for China online payment platform TradeEase. This project is expected to be launched in summer of 2015 and its turnover is expected to reach USD830,000 within three months.
Russia’s top internet search engine Yandex said Thursday that it has inked a cooperation deal with a group of Chinese companies and organizations to develop online retail trade between the two countries. The online trade may total 50 million rubles (US$815,000) by summer, Anna Kuzmina, deputy commercial director of Russia’s largest electronic payment service Yandex Money, told the Vedomosti business daily.