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The number of LLCs (or OOO in Russian) and sole proprietorships (individual entrepreneur) registered by Chinese entrepreneurs in Russia rose sharply in 2025 — up 25% from 2024 and 85% from 2023. On average, more than 400 businesses were registered each month, according to research by T-Business (part of T-Bank).

"Chinese" in this study refers to companies with a Chinese CEO or founder. The analysis uses public Federal Tax Service data on 7.5 million businesses and anonymized T-Business customer records.

Most Chinese businesses in Russia are limited liability companies (84% in 2025), with the rest operating as sole proprietorships. Over the past year, Chinese LLC registrations rose 35%, while registrations of those by Russian entrepreneurs fell 21% and those from other countries dropped 27%.

Chinese entrepreneurs in Russia are focusing on e-commerce and retail trade, the report says. In particular, over the past year, the number of Chinese businesses (LLCs and sole proprietorships) registered in Russia’s e-commerce segment has doubled. As a result, one in five LLCs in the Russian online commerce sector is now opened by a Chinese entrepreneur.

However, the trend is beginning to shift, according to analysts at T-Business. In 2025, offline retail in Russia outpaced e-commerce for the first time in terms of growth of new businesses registered by Chinese citizens. This expansion is largely driven by Chinese entrepreneurs launching companies in non-specialized retail, food trade (including beverages and tobacco), as well as in consumer electronics, furniture, and lighting.