The decision to develop and strengthen the infrastructure for mutual settlements, as well as establish foreign branches of their banks and open correspondent accounts, was made following the results of the 29th regular meeting of the heads of government of China and Russia.
Beijing and Moscow came to an agreement on the importance of ensuring the smooth and normal functioning of payment channels in trade, and therefore it was decided to develop a network of bank branches. It is also planned to create favorable conditions in the payment sector for tourists.
The parties decided to expand cooperation in banking and insurance activities, as well as in auditing. In addition, favorable conditions for investors will be created. Moscow and Beijing plan to strengthen cooperation in international institutions to counter money laundering and terrorist financing.
