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Russia Beyond The Headlines

HCF bank in talks with Alibaba, JD.COM on joint projects

March 18, 2016 Interfax
The Russian lender wants to finance purchases on Chinese ecommerce sites.
Richard Liu
Richard Liu, CEO and founder of China's e-commerce company JD.com in Beijing, June 16, 2014. Source: Reuters

HCF Bank is holding negotiations with Chinese companies on launching joint projects for purchases of goods on credit, the Russian retail lender's Chief Executive Yury Andresov told Kommersant.

"We're holding negotiations with the biggest Chinese partners and, I think, we will launch joint projects in the near future,” Andresov told the paper. “Among our potential partners are Alibaba and JD.com. Our plans include financing all bills higher than 1,500 rubles.”

Read more: 6 features of Russian investment in Asia

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