MKB participated in 22nd meeting of Russian-Chinese Commission for Financial Cooperation


Last week the 22nd meeting of the Subcommittee on Cooperation in Financial Issues of the Russian-Chinese Commission for the Preparation of Regular Meetings of Heads of Government took place as a video conference. The Russian delegation was headed by Bank of Russia Deputy Governor Dmitry Skobelkin, while MKB was represented by First Vice President Alexey Denisov, Head of Financial Institutions Department Vadim Timokhin, and FI Manager Julia Svetlichnaya.

Speaking at the meeting, Vadim Timokhin noted growing volumes of yuan payments MKB processes and of yuan funding it raises. The key topics of the event were the development of mutual settlements in national currencies, continuity of settlements between Russian and Chinese economic entities, building Sino-Russian financial infrastructure for mutual investments in the securities market, and cooperation in insurance, payment systems and bank cards.

The participants noted a positive trend in the development of the Sino-Russian financial cooperation and agreed to continue working jointly to facilitate the trade and economic activity between Russia and China.

"2021 witnesses the accomplishment of our strategy of building a full-fledged infrastructure in China: getting requisite limits from largest banks, creating a payment network for partner banks and a wide range of products for our corporate customers," underlined Vadim Timokhin.