Prospects for the development of foreign economic activities of the Russia banking sector in China

Relevance . In modern conditions of economic uncertainty and difficulties of doing business in connection with the application of sanctions, banks need to look for effective tools and ways to increase the effectiveness of mutual cooperation with other states to overcome the prevailing circumstances. During the work, the main aspects of opening and functioning of a bank branch in China were considered, as well as competitors at both the macro and micro levels were analyzed. Based on the SWOT analysis, the paper identifies the strengths and weaknesses, opportunities and threats of introducing a branch of a Russian bank into the Chinese banking market. The study identifies promising regions for the development of foreign economic activity and forms a range of banking services that contribute to the sustainable development of the branch of the Russian bank in the foreign market. The purpose of the study is to substantiate the need to develop the foreign economic activity of a Russian commercial bank in China. Objectives : Based on a comprehensive analysis and acceptability of the Chinese banking services market, an assessment of the current state of PJSC Expobank, an analysis of competitors in the proposed region and the specifics of a specific location, to develop a plan for opening a bank branch in China. Methodology . The study is aimed at achieving this goal and is based on a review of scientific research by both domestic and foreign economists, as well as an analysis of a number of requirements for opening a bank branch in China. Results . In the course of the work, the process of opening a bank branch in China for carrying out activities was analyzed, the advantages and disadvantages of expanding the boundaries of presence were identified, and promising areas for starting foreign economic activity were proposed. Conclusions . The conducted research gives grounds to conclude that the expansion of the geographical presence in China will allow PJSC Expobank to gain access to world economic centers and expand the boundaries of its activities.