Russia is new target for China's e-commerce platforms despite rouble crisis

Russia is becoming the most popular destination for China's cross-border e-commerce platforms, which have shrugged off the impact of the rouble crisis on their business.

"Russia is definitely the fastest growing market for us. We are preparing to hold our first trade fair in Russia next year," said Wu Qi, a vice-president of china.osell.com a Chongqing-based business-to-business platform that helps Chinese suppliers sell electrical appliances, apparel and household goods to Russia and other countries.

More than 30 per cent of its business comes from the neighbouring country.

Amid the rouble's recent slump, the firm's sales to Russia dropped 20 per cent this month compared with last year, Wu said.

"But the situation is improving," he said. "Many Russian suppliers have already begun to increase their stock to offset the risk of a continuously softer rouble."

Aliexpress, the e-commerce platform of Alibaba Group Holding, is the largest foreign player in Russia with about 35 per cent market share.