True World Intelligence News (TWIN)

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While China Cools With the West, China Warms to Russia

with 2 comments

Russian currency: The Ruble

Russian currency: The Ruble (Photo credit: Wikipedia)

Chinese government has allowed the usage of Russian currency, the ruble, along with the yuan, in the city of Suifenhe on the Sino-Russian border in northeast China.

Suifenhe, sometimes called “the capital” of Chinese-Russian  trade, will become the first site in the republic since its  founding in 1949 where a foreign currency can freely circulate,  Xinhua agency reported Sunday.

The Chinese will be able to make bank deposits and withdrawals in  Russian rubles, and also use rubles to pay for goods and  services.

The People’s Bank of China believes the move will help to counter  illegal currency swaps and turn Suifenhe into a model site for  the ruble-yuan trade.

http://rt.com/business/china-ruble-currency-suifenhe-905/

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Written by voiceoftruthusa

December 8, 2013 at 6:02 pm

Posted in Uncategorized

2 Responses

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  1. Reblogged this on Life in Russia and commented:
    Very interesting post. Every country that joins the European union seems to suffer greatly. Choose your alliances very carefully.

    archecotech

    December 8, 2013 at 6:37 pm

  2. Anti-democratic countries always find agreement

    Esther

    December 8, 2013 at 6:41 pm


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