Abstract :The RMB and Russian Ruble (RUB) settlement in China's interbank lending market amounted to 4.9 billion yuan (about 706 million U.S. dollars) in the third quarter of 2018, up 105 percent over the same period last year, reported TASS on November 21. BEIJING, Nov. 27 (Xinhua) ...
Mentioning that the third quarter of each year is usually strong in trade and economic relations, he said the two countries could well reach the commodity turnover of 80 billion dollars by the end of 2017 if current trends in commodity and currency markets are maintained. Calling the goal of ...
The central bank said the measure was taken due to a "redirection of trade flows to the East and the change in the currency of settlements to rubles, yuan and other currencies of friendly countries," referring to states like China, Serbia, Mexico and Brazil that have not joi...
Mentioning that the third quarter of each year is usually strong in trade and economic relations, he said the two countries could well reach the commodity turnover of 80 billion dollars by the end of 2017 if current trends in commodity and currency markets are maintained. Calling the goal of...
He wants a "deal" for thePower of Siberia 2natural gas pipeline and seeks more Chinese support for the war in Ukraine, especially in terms of hardware, he added. Putin also wants access to Chinese financial markets and to use the "Chinese currency to further Russia's trade," Hess said....
The yuan is the world's fourth-largest payment currency, third-largest trade finance currency and fifth-largest foreign exchange trading currency, Pan Gongsheng, governor of the People's Bank of China (PBC), the central bank, told a press conference on March 6, adding that boosting the ...
Although in the second quarter of 2022, China and Russia began to adopt local currency settlement for trade, avoiding the risk of US dollar settlement. But as mentioned earlier, secondary sanctions also pose compliance risks for RMB payments. After all, of China's total trade volume of 5.94 ...
On a map, Russia sits above Kazakhstan, Mongolia and China. Russia dwarfs China in geographic coverage but not in population, although Russia still has one of the largest populations globally. The ruble serves as Russia’s national currency. Cryptocurrency usage in Russia faces restrictions due to...
Li also called for more efforts to strengthen financial cooperation and increase the volume of settlement in local currency to support relevant cooperation. On trade and investment, Li said the two sides should work to expand trade, jointly safeguard world trade system and rules, comprehensively boos...