SPIMEX opens representative office in Beijing

MOSCOW. March 18 (Interfax) - The St. Petersburg International Mercantile Exchange (SPIMEX) has registered an official representative office in Beijing, the exchange said.

"Establishing a representative office should facilitate developing bilateral exchange cooperation. Chinese partners confirm the importance of past cross-border transactions, including a pilot export deal in the Timber and Construction Materials section for delivery to China via OTP Russian Railways in August 2025," according to SPIMEX's statement.

The SPIMEX also said that a number of working meetings with Chinese partners have recently been held in Beijing, particularly with the China-Russia Chamber of Commerce, during which logistical aspects of cross-border deliveries were discussed in detail. Chinese businesses have shown sustained interest not only in forest products, but also in trading in petrochemicals, petroleum coke, and bitumen, according to the statement.

The SPIMEX has signed memorandums of understanding with the Shanghai Petroleum and Gas Exchange (SHPGX), the Hainan Exchange, the Qingdao International Energy Exchange, and the Xinjiang Asia-Europe International Trade Center, as well as agreements with industry associations, including the China Timber & Wood Products Distribution Association.

The SPIMEX is Russia's largest commodity exchange, accounting for 99% of the country's organized trading volumes in oil and petroleum products, petrochemicals, gas, coal, timber, metals, construction materials, agricultural products, and mineral fertilizer.