Russian e-commerce titan to open merchant center in Hangzhou
Yao Gaoyuan (right), mayor of Hangzhou, visits the booth of Yandex Market at the recent Global Cross-Border E-Commerce Trade Expo. [Photo/tidenews.com.cn]
Russian e-commerce giant Yandex Market recently announced that it would establish its first China merchant service center in Hangzhou, the capital of East China's Zhejiang province.
The announcement followed a signing ceremony with the city's Yuhang district commerce bureau at the Global Cross-Border E-Commerce Trade Expo.
With cross-border trade between China and Russia now booming, Yandex Market reported a massive 630 percent year-on-year increase in cross-border gross merchandise volume in the first quarter of 2025, serving 20 million active buyers with an average of 37 purchases annually.
The new center aims to recruit 50,000 new Chinese sellers this year — tapping into Hangzhou's rich base of experienced cross-border merchants and its status as China's e-commerce capital.
Yandex Market will also host its first East China Seller Summit in Hangzhou on Aug 8, bringing together key Russian executives to strengthen their ties with Chinese sellers and boost access to the fast-growing Russian market.
Visitors stroll about the recent Global Cross-Border E-Commerce Trade Expo. [Photo/tidenews.com.cn]
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