Briefing: partners with Yandex Market to sell goods in Russia

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俄平台Yandex.Market 6月起将销售京东商品 – Ebrun

What happened: Chinese online retailer has reached a partnership with Yandex.Market, an e-commerce joint venture between Russian search engine Yandex and the country’s bank Sberbank, to increase cross-border trade from China to Russia. Yandex Market will start selling goods in Russia through its online marketplace starting in June.

Why it’s important: Russian and its neighboring Commonwealth of Independent States (CIS) countries are new frontiers for competition between Chinese e-commerce giants seeking new markets to boost their growth. Alibaba announced last week a joint venture plan between AliExpress and Russian partners including Group, a media and information technology conglomerate. Yandex set up an office in Shanghai in 2015 to oversee partnerships with Chinese businesses selling to Russian consumers. In addition to, Yandex has already helped several Chinese companies enter the Russian market, including Chinese B2C e-commerce site Lightinthebox and biological technology company ZKTeco.