Rus News Journal

The largest banks of Primorski Krai have begun operation « rouble - yuan »

C on January, 1st Primorski Territory was connected to bank experiment rouble - yuan which assumes conducting calculations between the Russian and Chinese partners without use of the American dollar.

Still more recently Russian physical and legal bodies paid the Chinese goods only in is hard to currency. To buy the goods for yuans, Russians have been obliged to enlist at first on the currency accounts in the Chinese bank necessary quantity of dollars and already then to convert them in national currency of Heavenly Empire. Or to bring cash American money and to exchange them for yuans. The similar order operated and in Russia.

in the autumn of last year the Central bank of the Russian Federation and National bank of China have concluded The bilateral agreement About interbank calculations in trade in frontier areas in which frameworks the right to direct calculations was received by banks and the branches of banks located in Blagoveshchensk and Hejhe. It is convenient because when calculations occur in one currency, it is possible to count up at once to copeck profitableness of the transaction, instead of upon as it occurs at calculations in dollars.

since 2005 experiment has extended on six frontier territories of Russia, including our corner of the world, and on boundary territories of China, including on a province Heilongjiang with which seaside businessmen actively co-operate.

Besides, this experiment will allow to legalise a considerable part of the foreign trade turnover between Russia and China. Now a significant amount of the foreign trade transactions both with Russian, and from the Chinese party are carried out besides bank structures. For last year, for example, according to official figures, the trade turnover of Primorski Krai with frontier Chinese provinces has made 700 million dollars. On informal - 2 mlrd dollars. The agreement on interbank calculations, having eliminated dollar as currency - the intermediary, will make the markets and transactions transparent.

a question - the answer

1. In what provinces of China it is possible to pay off roubles?

- Primorski Krai co-operates with a province popular among the Russian businessmen Heilongjiang. From the Chinese party the independent area Inner Mongolia, Sintszjan participate in experiment - Uigur autonomous region and a province Jilin. Except Primorski Krai in our country the agreement extends to Khabarovsk territory, Amur, Chita both Jewish independent areas and Republic Altai.

2. In what form payments are carried out?

- Here it is possible to use a rich bank arsenal. It is more convenient to large businessmen to work under the clearing settlement. All kinds of payments and in various currency are accepted also.

3. What banks of China and Primorski Krai render similar services?

- In Vladivostok calculations in yuans carry out banks Primorski Krai Far East OVK and PrimSotsBank. In the Peoples Republic of China they work with Bank of China, National building bank, Trading - industrial bank and Agroindustrial bank.

4. For what kinds of the goods in the Peoples Republic of China do not accept rouble payments?

- Such groups only two. Military - technical cooperation will occur, as before, in dollars. It is the first group of the goods which are not getting under this agreement. The second is an oil, oil products, black and colour metal rolling, railway transportation services.

The comment of the economist


Herman Zverev.

Herman Zverev, Cand.Econ.Sci., the Pacific centre of strategic workings out:

- This experiment will allow to deduce huge layers of economy from a shade. It is a question of making transparent large transactions, streams of goods turnover from the company to the company. Besides, the agreement - possibility to raise comfort of economic relations between two states - Russia and China. The system existing earlier was not convenient for the enterprises as large businessmen have been urged to work as ordinary citizens. The new agreement first of all is aimed at work of the large companies. Private soldiers primortsy, leaving in Hjluntszjan, the next two years of changes will not feel, they can conduct, as before, calculations in currency convenient for them.

Igor`s NOVIKOVA Photo.