Sunday, September 25, 2016

Accord Creates Closer Financial Ties Between Russia and China

ICBC designated as RMB clearing bank in Russia

BEIJING - The People's Bank of China (PBOC) announced Friday that it has authorized the Industrial and Commercial Bank of China (ICBC) Moscow office to offer renminbi clearing services in Russia. Chinese and Russian central banks signed a memorandum in June on the establishment of a…

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