Russian Agricultural Bank and Harbin Bank (China) have agreed to open a correspondent account in Chinese Yuan

27 December 2016

On 21 December 2016, while on a working visit to China the representatives of Russian Agricultural Bank signed an agreement with Harbin Bank on opening a correspondent account in Chinese Yuan (CNY). This agreement marked a major joint step forward for Russian and Chinese financial institutions on the way towards increasing the use of domestic currencies for bilateral trade settlement. This task has been earlier set by Russian and Chinese Governments.