A Harbin barter trade e-commerce business was listed on Shenzhen’s Qianhai Equity Exchange, a site for innovative financial services, in Guangdong province, on Nov 25, so, now, the company is not only Heilongjiang province’s first online platform for trade with Russia, it is also the first in its field to get listed on an equity exchange, local authorities say.

The company says it combines social and enterprise resources to provide information for inquiries, place orders and arrange contacts and help solve user problems, such as excess production capacity, cash flow, overstocked products, and poor marketing.

The company works with China UnionPay, the national payment network, and a financial guarantor to make online payments convenient and safe and it says that more than 1,000 people in Harbin have registered with it and that there will be a Russian version.

One representative of the provincial business cooperation association remarked, “Harbin has unique advantage in cross-border trade with Russia and this remittance settlement service, abundance of information technology, and number of professionals make it a pioneer in cross-border e-commerce with Russia and, thanks to its solid foundation the company sees huge growth potential.”