Среда, 26 Февраля
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China banks interested in the Russian market

Китай юань

Chinese money is coming into the Russian financial system as an alternative to money from the west. Russian banks announce support for Chinese e-payment system UnionPay and are beginning to take loans in China. In the future, can strengthen its position in the world market once the two currencies - the ruble and yuan. But the value of Russia to China, is not the same as China to Russia. And foreign trade figures show it. Thus, in January-August 2014 the main export partner for China was the United States with a share of almost 29% of the Top 1 of the partner countries, Russia was on the last, 10th place with a share of 3.9%. For Russia, during the same period remained an important partner of the EU - 49%. In China - 11%, in the US - 3.8%. If China wanted to dictate its terms - he has long resorted to such a policy. But unlike sudden moves in Europe and America, China pursues a more cautious policy. He benefits of such an ally as Russia, but at the same time do not want to go to a confrontation with the main trading partner. Announced a large number of joint projects, but let us remember how many years Gazprom signed a landmark agreement with China - 10 (!) Years. The main problem in Russia - this is not the lack of money for projects, and the lack of cost-effective projects themselves. Where there is a prospect, there will be cooperation.

Source: Bankir.ru

This post is also available in Russian: Банкам Поднебесной интересен российский рынок