icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

Integration with China’s financial market is Russia’s priority for next decade – Central Bank

Integration with China’s financial market is Russia’s priority for next decade – Central Bank
Russian authorities regard the integration of the Russian and Chinese financial markets as a priority, a new development strategy of Russia’s financial market states.

The priority area is the development of integration with Asian markets, primarily with the Chinese financial market. With the assistance of the Bank of Russia, work will continue to develop interaction between the Russian and Chinese financial markets,” the document, published on Monday by the Cabinet of Ministers and the Central Bank, reads.

Also on rt.com Russia & China continue ditching US dollars in settlements in favor of national currencies

It outlines Russia’s market strategy up to 2030 and sets a goal of forming an independent Russia-Chinese infrastructure to facilitate access for both Russian and Chinese investors and issuers to the securities and capital markets of the two states. The strategy also aims to increase the share of national currencies in mutual settlements.

At the same time, the document emphasizes that Russia will seek to develop financial market interaction with other Asian countries besides China.

Also, in order to increase the role of Moscow as an international financial center, it outlines plans to ease the work of Russian financial intermediaries with foreign issuers and investors. Authorities seek to create favorable tax conditions for foreign investors, including in the field of remote identification, and to simplify the issue of securities in Russia by foreign issuers.

Also on rt.com World could face disastrous financial crisis in 2023 on same scale as devastating 2008-2009 economic crash – Russian central bank

Russia has come up with an officially issued financial market strategy for the first time, Deputy Finance Minister Alexey Moiseev said at a press briefing on Monday. The strategy covers a broad range of areas, including consumer rights protection in the financial services sphere, digitalization, regulation of the insurance market and investors’ social responsibilities.

This document will complement the main directions of development of the financial market, which essentially determine the tactics. And the strategy determines the directions that the state will promote in the financial market over the coming decade,” Moiseev said.

For more stories on economy & finance visit RT's business section

Dear readers and commenters,

We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system.

Sorry for the inconvenience, and looking forward to your future comments,

RT Team.